Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume – Here’s Why

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw unusually-high trading volume on Tuesday . Approximately 26,087,509 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 22,576,836 shares.The stock last traded at $11.00 and had previously closed at $10.53.

Wall Street Analyst Weigh In

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

Recursion Pharmaceuticals Trading Up 1.0 %

The stock has a 50 day simple moving average of $7.38 and a 200-day simple moving average of $6.95. The firm has a market capitalization of $4.16 billion, a P/E ratio of -6.95 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CSS LLC IL bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at approximately $366,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Recursion Pharmaceuticals by 5.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,259,178 shares of the company’s stock valued at $15,272,000 after buying an additional 118,428 shares during the period. Vident Advisory LLC purchased a new stake in Recursion Pharmaceuticals during the 4th quarter valued at $80,000. Squarepoint Ops LLC purchased a new stake in Recursion Pharmaceuticals during the 4th quarter valued at $544,000. Finally, Two Sigma Investments LP raised its holdings in Recursion Pharmaceuticals by 4.0% during the 4th quarter. Two Sigma Investments LP now owns 1,660,509 shares of the company’s stock valued at $11,225,000 after buying an additional 63,211 shares during the period. 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.