Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 5% – Should You Buy?

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shot up 5% on Tuesday . The stock traded as high as $12.36 and last traded at $11.06. 42,958,879 shares were traded during trading, an increase of 85% from the average session volume of 23,231,602 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. KeyCorp lowered 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 Stock Performance

The company has a 50 day simple moving average of $7.52 and a 200 day simple moving average of $7.00. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of -6.76 and a beta of 0.86.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Recursion Pharmaceuticals by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after buying an additional 288,926 shares during the period. Accel Wealth Management acquired a new stake in Recursion Pharmaceuticals during the 4th quarter valued at approximately $310,000. FMR LLC raised its holdings in Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $580,000. Finally, State Street Corp boosted its stake in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.