We recently published a list of These 10 Stocks Led Rally on Wednesday. In this article, we are going to take a look at where Recursion Pharmaceuticals Inc. (NASDAQ:RXRX) stands against other stocks that led rally on Wednesday.

Ten companies led the charge on Wednesday, bucking a mostly pessimistic broader market, on the back of better outlook, positive earnings performance, and news of government support.

Wall Street’s main indices finished mix, with the Dow Jones and S&P 500 declining 0.50 percent and 0.27 percent, respectively. Nasdaq was the sole gainer, albeit inching up only 0.03 percent during the day.

In this article, we will explore the reasons behind the 10 firms’ strong performance. To come up with Wednesday’s top gainers, 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 extended its winning streak for a fourth consecutive day, adding another 8.88 percent to its valuation to finish Wednesday at $8.34 apiece as investors continued to place bets on the company ahead of the release of its earnings performance in the next few weeks.

In the third quarter of 2024, RXRX widened its net loss by 3 percent to $95.8 million from the $93 million registered in the same period last year, despite revenues soaring by 148 percent to $26.1 million from $10.5 million year-on-year.

RXRX is a clinical-stage biotechnology company leading the space by decoding biology to industrialize drug discovery.

RXRX leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias.

Overall, RXRX ranks 8th on our list of stocks that led rally on Wednesday. While we acknowledge the potential of RXRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as 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.