Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 9.6% Following Weak Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price fell 9.6% on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.23 and last traded at $5.16. 9,031,494 shares traded hands during trading, a decline of 28% from the average session volume of 12,478,559 shares. The stock had previously closed at $5.70.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in RXRX. Cetera Investment Advisers grew its stake in Recursion Pharmaceuticals by 22.6% in the 1st quarter. Cetera Investment Advisers now owns 75,788 shares of the company’s stock valued at $401,000 after purchasing an additional 13,955 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Recursion Pharmaceuticals during the first quarter valued at about $57,000. IFP Advisors Inc raised its position in Recursion Pharmaceuticals by 33.6% in the first quarter. IFP Advisors Inc now owns 15,808 shares of the company’s stock worth $84,000 after acquiring an additional 3,977 shares during the period. Private Advisor Group LLC boosted its stake in Recursion Pharmaceuticals by 41.0% in the first quarter. Private Advisor Group LLC now owns 44,307 shares of the company’s stock valued at $234,000 after acquiring an additional 12,880 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Recursion Pharmaceuticals by 8.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 53,622 shares of the company’s stock valued at $284,000 after acquiring an additional 4,349 shares during the period. 89.06% of the stock is owned by institutional investors.

Recursion Pharmaceuticals Trading Down 12.6 %

The firm has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $6.71. The firm has a market capitalization of $1.67 billion, a P/E ratio of -2.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals Company Profile

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.