Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 1.3% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was down 1.3% during trading on Thursday . The company traded as low as $7.97 and last traded at $8.24. Approximately 8,988,098 shares were traded during trading, a decline of 65% from the average daily volume of 25,388,480 shares. The stock had previously closed at $8.34.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RXRX shares. KeyCorp cut 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. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th.

Recursion Pharmaceuticals Stock Down 8.0 %

The firm has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $7.06. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -5.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Institutional Trading of Recursion Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RXRX. Allspring Global Investments Holdings LLC acquired a new stake in shares of Recursion Pharmaceuticals in the third quarter valued at about $25,000. Private Advisor Group LLC lifted its stake in Recursion Pharmaceuticals by 28.6% in the third quarter. Private Advisor Group LLC now owns 15,419 shares of the company’s stock valued at $102,000 after acquiring an additional 3,432 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Recursion Pharmaceuticals by 527.3% in the 3rd quarter. International Assets Investment Management LLC now owns 84,682 shares of the company’s stock valued at $558,000 after acquiring an additional 71,182 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Recursion Pharmaceuticals by 1,173.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,539 shares of the company’s stock valued at $611,000 after purchasing an additional 80,664 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Recursion Pharmaceuticals by 95.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 52,905 shares of the company’s stock worth $349,000 after purchasing an additional 25,851 shares during the period. Institutional investors 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.