Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 23.9% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price shot up 23.9% during mid-day trading on Monday . The company traded as high as $10.76 and last traded at $10.53. 82,298,499 shares changed 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp reduced their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company 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 note on Thursday, February 6th.

Recursion Pharmaceuticals Stock Performance

The company’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $6.90. The firm has a market capitalization of $4.11 billion, a PE ratio of -6.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter worth $68,375,000. Vanguard Group Inc. raised its holdings in shares of Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after purchasing an additional 9,737,196 shares during the period. ARK Investment Management LLC lifted its stake in shares of Recursion Pharmaceuticals by 16.4% in 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 in the last quarter. State Street Corp grew 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 worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. Finally, Norges Bank acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth approximately $23,429,000. Institutional investors and hedge funds 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.