10 Best Medical AI Companies

6. Recursion Pharmaceuticals Inc. (NASDAQ:RXRX)

Number of Hedge Fund Holders: 24

Market Capitalization: $2.2 billion

Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) is a biotech company based in Salt Lake City, Utah. It is leading in the race to decode biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery.

Recently, Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) announced its own language model, the LOWE Drug Discovery Software, which aims to perform complex drug discovery tasks while using a natural language interface. The software does this by running experiments through purpose-built AI models on massive data sets, which enables the software to screen and find compounds with low effectiveness so Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) can spend less time and money on developing drugs that won’t work.

Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) has six programs in pipeline trials. NVIDIA Corporation has also recently invested $50 million in this company, and is providing priority access to its hardware and resources. Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) also has major partnerships with key healthcare companies such as Bayer and Genentech for research, which drove up $58 million in sales during 2023. While Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) is still a smaller biotech company, its unique model and beneficial partnerships have resulted in the company developing a strong balance sheet and driving sales growth of 30% annually, which makes many investors consider it to be among the best medical AI stocks on the market today, especially considering its potential.

A total of 24 hedge funds were long Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) in the second quarter, with a total stake value of $460.9 million.