RXRX - Recursion: Exercising Caution Prior To Q3 Data Release (Rating Downgrade)
2024-03-19 20:50:22 ET
Summary
- Recursion Pharmaceuticals has seen a 35% increase in stock price, driven by investments from NVIDIA and Roche.
- Key pipeline projects target unmet needs in CCM, NF2, and Familial Adenomatous Polyposis, with significant R&D investment reported.
- Phase 2 trials for CCM and NF2 are anticipated as major catalysts; however, concerns arise over REC-994's efficacy compared to over-the-counter vitamin D3.
- Recommendation: Reduce holdings ahead of Q3 CCM data due to uncertainties surrounding lead program efficacy and imminent capital raising needs.
The Promise and Peril of Recursion's Innovative Pipeline
Recursion Pharmaceuticals ( RXRX ) is up 35% since my September "buy" recommendation , outpacing SP500 gains of 18% during the same period. The stock has been buoyed by notable investments from the likes of NVIDIA ( NVDA ) and Roche ( RHHBY )....
Recursion: Exercising Caution Prior To Q3 Data Release (Rating Downgrade)