Last week saw significant volatility. However, positive sentiment intensified throughout the biotech space, propelled by favorable legislation and encouraging trial data.
Shares of Recursion Pharmaceuticals (RXRX) traded down about 17% last Friday, participating in a broad market slump catalyzed by macroeconomic uncertainty. Shares of Recursion have increased 2.9% between September 16 and September 21, according to YCharts.
The company announced on September 13 its launch of clinical trials for REC-4481 and REC-396, two drugs aiming to treat familial adenomatous polyposis and Clostridium difficile infection, ARK Invest wrote in a recent insight.
Recursion is a young, platform-based therapeutics company industrializing drug discovery. Its key differentiator, Recursion OS, integrates exponential growth technologies spanning wet and dry-lab biology with the goal of optimizing preclinical success. Recursion is a top 25 holding in ARK Genomic Revolution ETF (ARKG), weighted at 1.45% as of September 21, according to the fund’s website.
ARKG is an actively managed equity strategy that aims to provide exposure to DNA sequencing technology, gene editing, CRISPR, therapeutics, agricultural biology, and molecular diagnostics.
Companies within ARKG are focused on and are expected to substantially benefit from extending and enhancing the quality of human and other life by incorporating technological and scientific developments and advancements in genomics into their businesses, according to the firm.
ARKG typically holds between 40 and 60 securities and charges an expense ratio of 75 basis points. Top holdings in the fund as of September 21 include Exact Sciences Corp (EXAS), Ionis Pharmaceuticals (IONS), CRISPR Therapeutics (CRSP), Teladoc Health Inc (TDOC), and Intellia Therapeutics Inc (NTLA).
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