Why Recursion Pharmaceuticals (RXRX) Stock Went Down On Thursday?

We recently published a list of 10 Firms Hit Hard in Thursday’s Trading. In this article, we are going to take a look at where Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) stands against other firms that hit hard in Thursday’s trading.

Shares of 10 companies were hit hard on Thursday, bucking a mostly optimistic broader market, as investor sentiment was dragged down by disappointing earnings performances and loss of key partnerships.

The Dow Jones was the sole decliner during the day, losing 0.28 percent in its valuation. In contrast, the S&P 500 and Nasdaq Composite both ended firmer, rallying by 0.36 percent and 0.51 percent, respectively.

This article details the reasons behind the 10 companies’ lackluster performance.

To come up with Thursday’s worst performers, 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)

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) snapped a three-day winning streak on Thursday, falling 8.59 percent to close at $7.24 apiece as investors resorted to profit-taking while repositioning their portfolios ahead of the release of its fourth-quarter earnings performance.

In recent news, Recursion Pharmaceuticals (NASDAQ:RXRX) announced favorable efficacy data in the second phase trial for its REC-994, a lead AI-derived candidate aimed at treating a fatal brain disease called cerebral cavernous malformation.

CCM is characterized by an enlargement and irregularity in the shape of small blood vessels in the brain. The vessels can alter blood flow and place patients at risk for seizures, headaches, progressive neurological deficits, and potentially fatal hemorrhagic stroke.

At present, CCM treatment is limited only to surgery and radiation therapy treatments.

Overall, RXRX ranks 9th on our list of firms that hit hard in Thursday’s trading. 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 time frame. 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.

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