Recursion Pharmaceuticals, Inc. (RXRX) stock experienced a 5.05% plummet in the intraday trading session on Wednesday, potentially driven by broader market concerns and volatility surrounding the artificial intelligence (AI) industry.
The biotech company, which focuses on AI-driven drug discovery, has garnered attention for its involvement in the rapidly growing AI healthcare market. However, recent developments, such as the introduction of DeepSeek's new AI model, have fueled market jitters and an "overreaction" from investors regarding the implications for AI-related companies.
Additionally, healthcare technology stocks, including Recursion Pharmaceuticals, faced market pressure throughout 2024. Despite this, analysts remain optimistic about the company's prospects, citing its acquisition of AI biotech startup Exscientia, a robust pipeline with over 10 clinical and preclinical programs, and the potential for achieving significant milestones in the next 18 months.
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