Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 5.4% Following Weak Earnings

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) dropped 5.4% during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $4.45 and last traded at $4.51. Approximately 7,052,787 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 12,553,666 shares. The stock had previously closed at $4.76.

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 company had revenue of $14.75 million during the quarter, compared to analyst estimates of $18.12 million. During the same period last year, the business earned ($0.39) earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Needham & Company LLC decreased 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, May 6th. Leerink Partners dropped their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Finally, Morgan Stanley decreased their price target on 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.60.

Hedge Funds Weigh In On Recursion Pharmaceuticals

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

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $1.74 billion, a PE ratio of -2.83 and a beta of 0.99. The stock's 50-day simple moving average is $5.53 and its 200 day simple moving average is $6.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

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.