Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 6.5% - Here's What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) fell 6.5% on Thursday . The company traded as low as $9.52 and last traded at $10.16. 24,316,392 shares changed hands during trading, a decline of 4% from the average session volume of 25,259,420 shares. The stock had previously closed at $10.87.

Analyst Upgrades and Downgrades

Several research firms have commented on RXRX. KeyCorp dropped their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th.

Recursion Pharmaceuticals Stock Down 10.3 %

The stock has a market cap of $3.63 billion, a PE ratio of -6.07 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The company has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $7.00.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Softbank Group CORP. bought a new stake in shares of Recursion Pharmaceuticals in the fourth quarter worth approximately $99,152,000. Novo Holdings A S bought a new stake in Recursion Pharmaceuticals in the 4th quarter worth approximately $68,375,000. Vanguard Group Inc. raised its stake in Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after buying an additional 9,737,196 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after buying an additional 4,626,268 shares during the period. Finally, State Street Corp lifted its holdings in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after buying an additional 4,120,685 shares during the period. Hedge funds and other institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.