Why Recursion Pharmaceuticals (RXRX) Stock Is Falling Thursday
Portfolio Pulse from Erica Kollmann
Recursion Pharmaceuticals' stock (RXRX) is trading lower as traders seem to be taking profits after a significant rally. The rally was triggered by a $50 million investment from Nvidia Corporation (NVDA). Morgan Stanley analyst Vikram Purohit maintained an Equal-Weight rating for RXRX and raised the price target from $8 to $11.
July 13, 2023 | 4:19 pm
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NEGATIVE IMPACT
RXRX stock is trading lower as traders take profits after a rally triggered by Nvidia's investment. Morgan Stanley maintains an Equal-Weight rating and raises the price target.
The stock is trading lower as traders are taking profits after the rally caused by Nvidia's investment. The raised price target by Morgan Stanley indicates a positive long-term outlook but the short-term impact is negative due to profit-taking.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Nvidia's $50 million investment in RXRX triggered a rally in the latter's stock. The short-term impact on Nvidia's stock is neutral.
Nvidia's investment in RXRX caused a rally in RXRX's stock, but the short-term impact on Nvidia's own stock is neutral as the investment amount is not significant enough to affect Nvidia's financials in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50