Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down After Earnings Miss

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) gapped down before the market opened on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $5.70, but opened at $5.49. Recursion Pharmaceuticals shares last traded at $5.33, with a volume of 5,427,114 shares traded.

The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). The firm had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.39) EPS.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RXRX shares. KeyCorp dropped their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC cut their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. Leerink Partners decreased their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Morgan Stanley cut their price target on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.60.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new stake in Recursion Pharmaceuticals in the fourth quarter worth about $26,000. Private Trust Co. NA bought a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $27,000. GAMMA Investing LLC lifted its position in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after purchasing an additional 4,948 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Recursion Pharmaceuticals by 43.7% during the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company’s stock valued at $53,000 after buying an additional 2,387 shares during the period. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Down 12.6 %

The business’s 50 day moving average is $5.68 and its 200 day moving average is $6.71. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.67 billion, a P/E ratio of -2.72 and a beta of 0.99.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.