Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 3.8% on Disappointing Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares traded down 3.8% on Friday following a weaker than expected earnings announcement. The stock traded as low as $6.61 and last traded at $7.38. Approximately 19,725,110 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 25,633,920 shares. The stock had previously closed at $7.67.

The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $4.60 million for the quarter, compared to analysts' expectations of $19.04 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Recursion Pharmaceuticals's revenue for the quarter was down 57.8% compared to the same quarter last year.

Analysts Set New Price Targets

Several analysts recently weighed in on RXRX shares. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Leerink Partners cut their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Friday. KeyCorp reduced their price objective 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. Finally, Cowen reiterated a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $8.25.

Remove Ads

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. Allspring Global Investments Holdings LLC acquired a new stake in Recursion Pharmaceuticals during the 3rd quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at $27,000. GAMMA Investing LLC boosted its position in Recursion Pharmaceuticals by 1,979.2% during the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock valued at $35,000 after purchasing an additional 4,948 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Recursion Pharmaceuticals by 176.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company's stock valued at $42,000 after buying an additional 4,091 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Price Performance

The company has a market capitalization of $2.57 billion, a P/E ratio of -4.31 and a beta of 0.86. The company's 50-day simple moving average is $7.72 and its 200 day simple moving average is $7.09. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

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.