5 Pharmaceutical Stocks to Buy Now According to Billionaire Kerr Neilson

3. Recursion Pharmaceuticals Inc (NASDAQ:RXRX)

Stake Value of Platinum Asset Management: $24,733,000

Percentage of Platinum Asset Management’s 13F Portfolio: 0.68%

Number of Hedge Fund Holders: 14

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a clinical-stage biopharmaceutical company that is involved in decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery.

This April, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) announced that the U.S. FDA has granted the company Fast Track designation for REC-4881, the company’s treatment for familial adenomatous polyposis.

Platinum Asset Management upped its Q3 2021 stakes in the Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 119% in the fourth quarter of 2021. As of December 31, 2021, the fund’s stakes are valued at $24.73 million, which represents 0.68% of its Q4 2021 investment portfolio.

Insider Monkey’s data shows 14 hedge funds that held long positions in Recursion Pharmaceuticals Inc (NASDAQ:RXRX) at the end of the fourth quarter of 2021. The total stakes of these hedge funds amounted to more than $220 million. This is compared to 13 positions in the preceding quarter with stakes worth $299.05 million.

Here is what Baron Discovery Fund had to say about Recursion Pharmaceuticals Inc (NASDAQ:RXRX) in its Q2 2021 investor letter:

“Recursion Pharmaceuticals, Inc. is a biotechnology company engaged in technology-enabled drug discovery. The company uses automated wet-lab infrastructure (actual biologic experimentation) with cell perturbations (multiple experiments done on the duplicate cells), and image capture to generate data at large scale. It also operates its own supercomputer (the “BioHive”) to drive “in-silico” (virtual, software-enabled) inferences based on its data and wet-lab experiments. This combined approach has generated a strong pipeline of programs spanning early discovery to clinical trials, including a collaboration deal with Bayer. The company’s use of artificial intelligence and machine learning lowers the cost of drug discovery and speeds up time to market, and we believe this paradigm is in the early innings of disrupting the entire biopharmaceutical industry. Since Recursion’s program pipeline is still relatively early stage, we have started with a small investment.”