Shares of Recursion Pharmaceuticals (NASDAQ:RXRX) are surging Wednesday following a robust earnings report released before the bell.
Recursion Pharmaceuticals Beats Market Expectations
The biotechnology firm reported a loss per share of 21 cents, surpassing the estimated loss of 27 cents. Additionally, Recursion’s revenue reached $35.54 million in the quarter, well above the forecasted $24.59 million.
“Recursion has reached an inflection point: moving from proving that AI can participate in drug discovery to demonstrating that an AI-native operating system can generate clinical proof and durable value,” said Najat Khan, CEO of Recursion.
RXRX Stock Trades Above Key Averages
Currently, RXRX is trading at $3.93, marking a significant rise of more than 11% during Wednesday’s session. This movement places the stock 2.1% above its 20-day SMA but still 16.1% and 19.4% below its 100-day and 200-day SMAs, respectively. These indicators suggest a mixed technical perspective where short-term gains are overshadowed by potential long-term concerns.
The stock’s RSI stands at 38.97, indicating a neutral momentum, while the MACD presents a bearish signal, with the MACD line at -0.2576 below the signal line at -0.2369. This setup suggests that despite today’s gains, underlying bearish pressures remain.
RXRX Stock Up More Than 10%
RXRX Price Action: Recursion Pharmaceuticals shares were up 11.33% at $3.93 at the time of publication on Wednesday, according to Benzinga Pro data.
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