Recursion Pharmaceuticals ( (RXRX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Recursion Pharmaceuticals’ stock has been under pressure following the announcement of its first-quarter financial results, which showed revenues falling short of expectations at $15 million compared to the anticipated $18.08 million. Despite this, the company is focusing on a robust R&D strategy in oncology and rare diseases, supported by a $7 million milestone from Sanofi. While advancing partnerships with Roche and Genentech, Recursion has also made strategic decisions to deprioritize certain programs to extend its cash runway until mid-2027. Promising preliminary results from its Phase 1b/2 TUPELO trial, showing a 43% reduction in polyp burden, highlight the company’s potential in drug discovery. However, these developments come amid a challenging profitability landscape and a notable year-to-date stock price decline of 20.94%.
More about Recursion Pharmaceuticals
YTD Price Performance: -20.94%
Average Trading Volume: 25,074,910
Technical Sentiment Signal: Buy
Current Market Cap: $2.29B
For further insights into RXRX stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.