30 Most Important AI Stocks According to BlackRock

23. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Number of Hedge Fund Holders: 24

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) operates as a clinical-stage biotechnology company that engages in decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company has become the hottest AI stock in the biotech world after NVIDIA, one of the leaders of the AI boom, invested $50 million in the company last year. Since then, Recursion has increased focus on AI products, recently revealing that it would be purchasing AI biotech startup Exscientia.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is viewed with caution on Wall Street. Jefferies analyst Dennis Ding recently lowered the price target on the stock to $6 from $8 and kept a Hold rating, noting that new Phase 2 CCM data showed an encouraging trend on MRI at the high 400mg dose and appeared to improve with time, but there were no improvements in patient or physician reported outcomes at 12 months.