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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares traded down 3.8% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $6.61 and last traded at $7.38. 19,725,110 shares changed hands during 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 for the quarter, missing the consensus estimate of ($0.36) by ($0.17). The firm had revenue of $4.60 million during the quarter, compared to analysts’ expectations of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals’s revenue for the quarter was down 57.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.42) earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RXRX. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. 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 note on Wednesday, January 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RXRX. Ensign Peak Advisors Inc grew its holdings in shares of Recursion Pharmaceuticals by 0.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock worth $2,774,000 after acquiring an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Recursion Pharmaceuticals by 21.1% during the 4th 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. Axxcess Wealth Management LLC lifted its holdings in shares of Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after acquiring an additional 1,795 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Recursion Pharmaceuticals by 7.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock worth $176,000 after buying an additional 1,875 shares in the last quarter. Finally, Wedmont Private Capital raised its stake in Recursion Pharmaceuticals by 10.6% during the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after buying an additional 2,000 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Stock Down 3.7 %

The stock’s fifty day moving average is $7.69 and its two-hundred day moving average is $7.07. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -4.82 and a beta of 0.86. 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.