Recursion Pharmaceuticals (NASDAQ:RXRX) Issues Earnings Results, Misses Estimates 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) posted its quarterly earnings results on Tuesday. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06), Zacks reports. Recursion Pharmaceuticals had a negative return on equity of 76.09% and a negative net margin of 1,004.91%. The firm had revenue of $19.10 million for the quarter, compared to analyst estimates of $15.38 million. During the same quarter last year, the firm earned ($0.40) EPS. The company's revenue was up 33.3% on a year-over-year basis.

Recursion Pharmaceuticals Stock Performance

Shares of Recursion Pharmaceuticals stock traded down $0.05 during trading on Friday, hitting $5.36. 11,988,952 shares of the stock were exchanged, compared to its average volume of 29,196,614. The stock has a market cap of $2.18 billion, a PE ratio of -3.01 and a beta of 0.93. The stock's fifty day moving average is $5.40 and its 200 day moving average is $5.89. Recursion Pharmaceuticals has a 12 month low of $3.79 and a 12 month high of $12.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 3.58.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Focus Partners Wealth bought a new position in shares of Recursion Pharmaceuticals during the 1st quarter valued at about $77,000. Brighton Jones LLC grew its stake in shares of Recursion Pharmaceuticals by 49.4% in the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock worth $137,000 after purchasing an additional 6,699 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Recursion Pharmaceuticals by 24.4% in the 2nd quarter. Cetera Investment Advisers now owns 94,277 shares of the company's stock worth $477,000 after purchasing an additional 18,489 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Recursion Pharmaceuticals in the 1st quarter worth approximately $890,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Recursion Pharmaceuticals by 7.5% in the 1st 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 last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a report on Tuesday, July 8th. Morgan Stanley assumed coverage on shares of Recursion Pharmaceuticals in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $5.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.