Lux Capital, an investment management firm, published its second quarter 2022 investor letter – a copy of which can be downloaded here. Over our past six quarterly letters, the fund’s messages were a mix of defensive prudence and offensive preparedness to pounce (capitalize on current capital markets, build war chest balance sheets, husband the cash, now consolidate). While others may say their pace is slowing, Lux Capital’s pace pulses to a steady beat. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Lux Capital mentioned Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) and explained its insights for the company. Founded in 2013, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a Salt Lake City, Utah-based biotechnology company with a $2.0 billion market capitalization. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) delivered a -31.93% return since the beginning of the year, while its 12-month returns are down by -47.31%. The stock closed at $11.66 per share on September 29, 2022.
Here is what Lux Capital has to say about Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in its Q2 2022 investor letter:
“As we discussed before describing “Extensionalism”, one of our theses has been the growing convergence between the biological and technological, the organic and inorganic, man and machine. Lux has made investments in the digitization, technological capture and amplification of each of the human senses. Consider vision and speech: we have technology that can rapidly recognize and label objects from pixels (companies that span defense, biotechnology, manufacturing and transportation like, Recursion (NASDAQ:RXRX), and others that can rapidly generate videos, images, and even more complex language from simple inputs.”
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Our calculations show that Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was in 17 hedge fund portfolios at the end of the second quarter of 2022, compared to 20 funds in the previous quarter. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) delivered a 44.84% return in the past 3 months.
In September 2021, we also shared another hedge fund’s views on Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.