Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 5.4% After Earnings Miss

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price traded down 5.4% during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $4.45 and last traded at $4.51. 7,052,787 shares changed hands during trading, a decline of 44% from the average session volume of 12,553,666 shares. The stock had previously closed at $4.76.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Decker Retirement Planning Inc. acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth approximately $26,000. Private Trust Co. NA bought a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $27,000. GAMMA Investing LLC raised its holdings in shares of Recursion Pharmaceuticals by 1,979.2% during the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after acquiring an additional 4,948 shares during the period. Farther Finance Advisors LLC lifted its position in Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after acquiring an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Recursion Pharmaceuticals by 43.7% in the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company’s stock worth $53,000 after purchasing an additional 2,387 shares during the period. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Performance

The stock has a fifty day simple moving average of $5.68 and a 200-day simple moving average of $6.71. The stock has a market cap 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 quick ratio of 4.35 and a current ratio of 4.35.

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.