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

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

The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. During the same quarter last year, the firm posted ($0.39) earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis.

Wall Street Analyst Weigh In

RXRX has been the topic of a number of analyst reports. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC dropped their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday. Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Morgan Stanley lowered their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, Leerink Partners reduced 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 report on Friday, February 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.60.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RXRX. Decker Retirement Planning Inc. bought a new position in Recursion Pharmaceuticals during the 4th quarter valued at $26,000. Private Trust Co. NA purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock worth $35,000 after purchasing an additional 4,948 shares during the period. 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 valued at $52,000 after purchasing an additional 1,353 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Recursion Pharmaceuticals by 43.7% in the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock worth $53,000 after buying an additional 2,387 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The stock has a market capitalization of $1.81 billion, a P/E ratio of -2.94 and a beta of 0.99. The company has a 50 day simple moving average of $5.75 and a 200-day simple moving average of $6.73.

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.

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