Why Recursion Pharmaceuticals, Inc. (RXRX) Soared Last Week

We recently compiled a list of the Last Week’s Top 10 Stocks Post Double-Digit Gains. In this article, we are going to take a look at where Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) stands against the other stocks.

The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.

On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.

Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A pharmacist in a hospital pharmacy stands next to a row of various drug containers.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) soared 40 percent week-on-week, with the company also experiencing a six-day winning streak as of Friday to close at $10.53 as investor optimism was fueled by Nvidia Corp.’s (NVDA) holdings in the company while disposing of shares in other firms.

NVDA submitted a regulatory filing on Friday showing ownership reduction and increases in various stocks. Notably, NVDA retained its 7.7-million holdings in RXRX, while exiting firms, including SoundHound AI.

The news represented a vote of confidence not just for NVDA but among small investors.

In other news, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is also expected to release its earnings performance for 2024 within the next few weeks.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a clinical-stage biotechnology company leading the space by decoding biology to industrialize drug discovery.

Overall RXRX ranks 5th on our list of last week’s top gainers. While we acknowledge the potential of RXRX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RXRX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.