RXRX Soars 8.24% on AI Drug Breakthrough, Hits 379th in U.S. Trading Volume

Recursion (RXRX) surged 8.24% on October 2, with a trading volume of $310 million, marking a 39.99% increase from the previous day’s volume. The stock ranked 379th in trading activity among U.S. equities. The move followed renewed institutional interest in the biotech firm’s AI-driven drug discovery platform, which has attracted attention for its potential to streamline preclinical trials. Analysts noted that the volume spike coincided with a broader market rotation into growth sectors, though RXRX’s performance outpaced peer groups in the biotechnology index.

Recent developments highlighted Recursion’s strategic partnership with a major pharmaceutical player, which expanded access to its proprietary data sets for rare disease research. The collaboration, announced in late September, has positioned the company to benefit from shared R&D costs and accelerated pipeline validation. Market participants interpreted the partnership as a catalyst for near-term value creation, particularly as the firm approaches key data readouts from two Phase 1 trials in 2025.

To set up a rigorous back-test, several implementation details require confirmation: the stock universe (e.g., Russell 3000 or all U.S.-listed equities), trade execution methodology (close-to-close returns), rebalancing rules (equal-weighting of 500 names), friction assumptions (zero commissions vs. 2 basis points round-trip costs), and optional benchmark comparisons (e.g., SPY). Once finalized, the back-test will analyze performance from January 3, 2022, through October 2, 2025.