Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.8% on Disappointing Earnings

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) traded down 3.8% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $6.61 and last traded at $7.38. 19,725,110 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 25,633,920 shares. The stock had previously closed at $7.67.

The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The company had revenue of $4.60 million for the quarter, compared to the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue was down 57.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) earnings per share.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday. Leerink Partners cut their price objective on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday. KeyCorp cut their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Three investment 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 a consensus rating of “Hold” and an average target price of $8.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXRX. Allspring Global Investments Holdings LLC bought a new position in Recursion Pharmaceuticals in the 3rd quarter worth approximately $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $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% during the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after acquiring an additional 4,948 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 176.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after acquiring an additional 4,091 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

Recursion Pharmaceuticals Stock Down 2.1 %

The firm has a market capitalization of $2.93 billion, a PE ratio of -4.91 and a beta of 0.86. The company has a fifty day moving average price of $7.72 and a 200-day moving average price of $7.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

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.