Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down on Disappointing Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s stock price gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $5.70, but opened at $5.49. Recursion Pharmaceuticals shares last traded at $5.33, with a volume of 5,427,114 shares changing hands.

The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $18.12 million. During the same quarter in the previous year, the company posted ($0.39) EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research firms have weighed in on RXRX. Leerink Partners dropped their price target on 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. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. Cowen reiterated a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Morgan Stanley cut their price objective on Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, KeyCorp decreased their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of "Hold" and an average target price of $8.20.

Institutional Trading of Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in Recursion Pharmaceuticals by 53.9% during the third quarter. Barclays PLC now owns 697,432 shares of the company's stock valued at $4,596,000 after purchasing an additional 244,278 shares during the period. JPMorgan Chase & Co. raised its holdings in Recursion Pharmaceuticals by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,176,191 shares of the company's stock valued at $7,751,000 after buying an additional 67,464 shares during the period. GAMMA Investing LLC lifted its position in Recursion Pharmaceuticals by 1,979.2% in the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock worth $35,000 after buying an additional 4,948 shares during the last quarter. Green Alpha Advisors LLC boosted its stake in Recursion Pharmaceuticals by 3.6% during the fourth quarter. Green Alpha Advisors LLC now owns 67,145 shares of the company's stock worth $454,000 after buying an additional 2,346 shares during the period. Finally, DBK Financial Counsel LLC bought a new position in Recursion Pharmaceuticals during the fourth quarter valued at $101,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Trading Down 7.6 %

The company's 50 day moving average price is $5.82 and its two-hundred day moving average price is $6.75. The firm has a market cap of $2.12 billion, a PE ratio of -3.48 and a beta of 1.00. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

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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