Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) stock is surging on Wednesday, without any news to justify the movement.
Session volume stands at 69.3 million versus the average volume of 26.9 million, as per data from Benzinga Pro.
Recursion reported second-quarter revenue of $19.22 million, beating analyst estimates of $16.23 million. The company reported a second-quarter loss of 41 cents per share, missing estimates for a loss of 34 cents per share.
In June, the company streamlined its operating strategy and announced a workforce reduction of approximately 20%, extending its cash runway into the fourth quarter of 2027.
Also Read: Nvidia-Backed Recursion, Ginkgo Bioworks Rally Following FDA’s Decision To End Animal Testing
In a recent social media post, Peter Ray, senior director of medicinal chemistry at Recursion Pharmaceuticals, drew attention to a new article in WIRED from Veronique Greenwood (vero_greenwood).
This article highlighted REC-3565, an investigational drug candidate. Greenwood's piece quoted Ray, who expressed excitement about a molecule he and his colleagues at Recursion had been developing: REC-3565, a MALT1 inhibitor.
The company has specifically designed the drug to interfere with the growth of blood cancer cells. Ray further emphasized that REC-3565, currently in Phase 1 trials and developed using Recursion's advanced AI platform, would not have been conceived through traditional human design methods.
How To Buy RXRX Stock
By now you're likely curious about how to participate in the market for Recursion Pharmaceuticals – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Recursion Pharmaceuticals, which is trading at $6.09 as of publishing time, $100 would buy you 16.42 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
RXRX Price Action: Recursion Pharmaceuticals shares were up 17.21% at $6.12 at the time of publication on Wednesday, according to Benzinga Pro data.
Recursion Pharmaceuticals operates in the highly competitive biotechnology sector, with a market cap of $2.68 billion, reflecting significant investor interest in its innovative approaches.
The stock’s 52-week range of $3.79 to $12.36 indicates considerable volatility, suggesting that market sentiment has fluctuated widely, likely influenced by the company’s advancements in drug discovery technologies.
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