Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 23.9% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price shot up 23.9% on Monday . The stock traded as high as $10.76 and last traded at $10.53. 82,298,499 shares traded hands during mid-day trading, an increase of 344% from the average session volume of 18,530,172 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

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

Recursion Pharmaceuticals Price Performance

The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -7.10 and a beta of 0.86. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $7.38 and a two-hundred day moving average price of $6.95.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its holdings in shares of Recursion Pharmaceuticals by 24.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 25,182 shares of the company’s stock worth $166,000 after acquiring an additional 5,021 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Recursion Pharmaceuticals in the third quarter valued at approximately $70,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Recursion Pharmaceuticals during the third quarter valued at approximately $25,000. Foundations Investment Advisors LLC boosted its position in shares of Recursion Pharmaceuticals by 25.0% during the third quarter. Foundations Investment Advisors LLC now owns 193,036 shares of the company’s stock worth $1,272,000 after buying an additional 38,642 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Recursion Pharmaceuticals by 28.6% in the 3rd quarter. Private Advisor Group LLC now owns 15,419 shares of the company’s stock worth $102,000 after buying an additional 3,432 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.