Recursion Pharmaceuticals (NASDAQ:RXRX) Releases Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Recursion Pharmaceuticals reported an earnings per share (EPS) of ($0.41), missing analysts' expectations of ($0.35) by $0.06.
• Despite the EPS miss, the company achieved revenue of $19.10 million, exceeding the consensus estimate of $15.38 million, reflecting a 33.3% increase year-over-year.
• Following the earnings release, Recursion Pharmaceuticals' stock decreased by 4.2%, trading at $5.56 per share.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06), Zacks reports. The business had revenue of $19.10 million for the quarter, compared to the consensus estimate of $15.38 million. Recursion Pharmaceuticals had a negative net margin of 961.32% and a negative return on equity of 74.70%. The firm's revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.40) earnings per share.

Recursion Pharmaceuticals Stock Down 4.2%

Recursion Pharmaceuticals stock traded down $0.25 during midday trading on Tuesday, hitting $5.56. The stock had a trading volume of 24,250,184 shares, compared to its average volume of 25,335,508. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $5.32 and a 200 day moving average price of $5.93. Recursion Pharmaceuticals has a 12 month low of $3.79 and a 12 month high of $12.36. The stock has a market cap of $2.26 billion, a P/E ratio of -3.13 and a beta of 0.93.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Recursion Pharmaceuticals by 49.4% in the fourth quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock worth $137,000 after purchasing an additional 6,699 shares in the last quarter. Royal Bank of Canada boosted its stake in Recursion Pharmaceuticals by 627.6% in the first quarter. Royal Bank of Canada now owns 269,013 shares of the company's stock valued at $1,423,000 after acquiring an additional 232,038 shares during the last quarter. AQR Capital Management LLC bought a new position in Recursion Pharmaceuticals in the first quarter valued at approximately $890,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Recursion Pharmaceuticals by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,434 shares of the company's stock worth $953,000 after purchasing an additional 12,372 shares during the period. Finally, Focus Partners Wealth bought a new stake in Recursion Pharmaceuticals in the 1st quarter valued at $77,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RXRX. Morgan Stanley started coverage on Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $8.00 price target on shares of Recursion Pharmaceuticals in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.00.

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.

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