Recursion Pharmaceuticals Went Down 10% Week-Ending June 13th - Here's Why
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Recursion Pharmaceuticals (RXRX), one of 5 constituents in the AI-Focused Pure-Play Drug Discovery Stocks Portfolio, was DOWN 10.4% for the week ending June 13th as a result of the following events:
- Layoff announcement amid funding squeeze: On June 10–11 RXRX told investors it would cut roughly 20% of its workforce and narrow its R&D focus, a move framed as necessary given tougher biotech financing conditions—and one that spooked the market.
- Analyst caution over absent near-term catalysts: RXRX lacks new upside drivers, so traders view the stock as vulnerable which was reflected in its decline w/e June 13th.
- Broader biotech risk-off: Rising Treasury yields and a late-cycle market mood pushed investors out of higher-beta drug-development names, and Recursion, one of the more volatile AI-driven biotechs, saw outsized profit-taking.
Taken together, the above dynamics drove RXRX to underperform the wider Nasdaq and biotech indices for the week.
About Recursion Pharmaceuticals
Recursion Pharmaceuticals, Inc. engages in decoding biology and chemistry by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery in the United States. Go here to see the company's current pipeline.
Stock Price Forecast
According to 5 professional analysts, the average 12-month price target for Recursion Pharmaceuticals stock is $7.60 which represents a 54.5% increase in the stock price over the next year.
Analyst Ratings
The average analyst rating for Recursion Pharmaceuticals stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.
Analyst Ratings
The average analyst rating for Recursion Pharmaceuticals stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.
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This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed.
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