Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 10.7% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares traded up 10.7% during trading on Wednesday . The stock traded as high as $12.05 and last traded at $11.78. 29,323,578 shares were traded during mid-day trading, an increase of 21% from the average session volume of 24,262,922 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of research analysts recently weighed in on RXRX shares. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th.

Recursion Pharmaceuticals Price Performance

The business’s 50-day moving average price is $7.52 and its 200 day moving average price is $7.00. The company has a market capitalization of $3.63 billion, a P/E ratio of -6.07 and a beta of 0.86. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc increased its holdings in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock worth $2,774,000 after purchasing an additional 1,300 shares during the period. Farther Finance Advisors LLC grew its position in Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock worth $52,000 after buying an additional 1,353 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Recursion Pharmaceuticals by 4.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after acquiring an additional 1,795 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Recursion Pharmaceuticals by 7.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Recursion Pharmaceuticals by 10.6% during the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after acquiring an additional 2,000 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

About Recursion Pharmaceuticals

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.