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Silence Therapeutics PLC Sponsored ADR (SLN) - free report >>
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Recursion Pharmaceuticals (RXRX) Surges 13.8%: Is This an Indication of Further Gains?
Recursion Pharmaceuticals (RXRX - Free Report) shares rallied 13.8% in the last trading session to close at $12.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.4% gain over the past four weeks.
The sudden surge in the stock price was observed after NVIDIA Corporation, a worldwide leader in visual computing technologies, revealed its investments in three companies leveraging artificial intelligence capabilites to develop respective businesses, among which is Recursion Pharmaceuticals.
This biotechnology company is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of -48.4%. Revenues are expected to be $12.37 million, down 9.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Recursion Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 3.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RXRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Recursion Pharmaceuticals is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Silence Therapeutics PLC Sponsored ADR (SLN - Free Report) , finished the last trading session 0.3% lower at $21.89. SLN has returned 21.4% over the past month.
For Silence Therapeutics PLC Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.25. This represents a change of +45.7% from what the company reported a year ago. Silence Therapeutics PLC Sponsored ADR currently has a Zacks Rank of #3 (Hold).