Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw an uptick in trading volume on Tuesday . 26,087,509 shares changed hands during 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.

Analysts Set New Price Targets

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

Recursion Pharmaceuticals Stock Down 4.8 %

The firm has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $6.98. The company has a market capitalization of $4.04 billion, a PE ratio of -6.76 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 Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in RXRX. Allspring Global Investments Holdings LLC purchased a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $25,000. Decker Retirement Planning Inc. acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth approximately $27,000. GAMMA Investing LLC lifted its stake in Recursion Pharmaceuticals by 1,979.2% during the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after purchasing an additional 4,948 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after purchasing an additional 4,091 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other 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.