Wrexham got off to a flying start as George Dobson opened the scoring in the fourth minute. The midfielder intercepted a clearance from a Cambridge defender and found the back of the net with a brilliant low shot from the edge of the box.
The Red Dragons dominated proceedings after taking the early lead but failed to increase their tally in the first half. Just a few minutes before the half-time whistle, Liam Bennett scored the equaliser. The right-back's initial header was parried out by Arthur Okonkwo, but he eventually slotted the ball home as the Wrexham defenders were caught napping.
The visitors conceded a penalty just a couple of minutes after the match result as Lewis Brunt brought down Ryan Loft inside the area. Josh Stokes took the resulting spot-kick and handed his side the lead for the first time in the game.
Phil Parkinson's side were quick to react as they responded with an equaliser within 10 minutes. Ryan Longman kept an inch-perfect cross inside the Cambridge box from the right side Sam Smith found the back of the net with a clinical header.
With Wycombe dropping points at Shrewsbury, Ryan Reynolds and Rob McElhenney's side continue to push for direct qualification to the Championship and a third promotion on the trot.