Recursion Pharmaceuticals, Inc. RXRX shares are trading lower on Thursday as traders appear to be taking profits. The stock rallied on Wednesday after the company announced a $50 million investment by Nvidia Corporation NVDA.
The Details:
Shares of RXRX rose more than 80% Wednesday after the company announced the investment and collaboration with Nvidia aimed at the acceleration of its foundation models and the advancement of AI applications in the biopharmaceutical field.
On Thursday, Morgan Stanley analyst Vikram Purohit maintained Recursion Pharmaceuticals with an Equal-Weight rating and raised the RXRX price target from $8 to $11.
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RXRX Price Action: According to data from Benzinga Pro, 16.30% of available RXRX shares are currently being sold short, and the stock is trading 5.55% lower at $11.41 at the time of publication.
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