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Why Recursion Pharmaceuticals Stock Plummeted 24% This Week

TheMotleyFool

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Why Recursion Pharmaceuticals Stock Plummeted 24% This WeekPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Recursion Pharmaceuticals (NASDAQ: RXRX) fell this week. The stock lost 24% as of market close on Friday. The move comes as the S 500 and Nasdaq Composite both slipped slightly.

Recursion revealed disappointing first-quarter earnings on Monday and announced it would pare down its development pipeline. Recursion was also hit by a survey revealing that the biotech industry expects President Donald Trump's federal research cuts will make raising capital more challenging.

Source Fool.com

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