Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.6% – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price dropped 4.6% on Friday . The company traded as low as $9.80 and last traded at $9.87. Approximately 12,513,958 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 25,305,934 shares. The stock had previously closed at $10.35.

Analysts Set New Price Targets

Several brokerages have issued reports on RXRX. KeyCorp dropped their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued 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 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 $3.63 billion, a P/E ratio of -6.07 and a beta of 0.86. The company’s 50 day moving average price is $7.56 and its two-hundred day moving average price is $7.02.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Recursion Pharmaceuticals by 40.1% during the fourth 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 period. ARK Investment Management LLC increased its position in 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 purchasing an additional 4,626,268 shares during the period. Softbank Group CORP. purchased a new position in Recursion Pharmaceuticals during the 4th quarter valued at about $99,152,000. State Street Corp raised its holdings 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 in the last quarter. Finally, Novo Holdings A S purchased a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $68,375,000. 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.