Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 9.6% Following Weak Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 9.6% during trading on Monday following a dissappointing earnings announcement. The company traded as low as $5.23 and last traded at $5.16. Approximately 9,031,494 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 12,478,559 shares. The stock had previously closed at $5.70.

The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $14.75 million for the quarter, compared to analysts’ expectations of $18.12 million. During the same period last year, the firm posted ($0.39) earnings per share. Recursion Pharmaceuticals’s quarterly revenue was up 7.2% on a year-over-year basis.

Analyst Ratings Changes

RXRX has been the topic of a number of research reports. Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Morgan Stanley reduced their target price on Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. KeyCorp decreased their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $8.20.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Recursion Pharmaceuticals by 40.1% in the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after acquiring an additional 9,737,196 shares in the last quarter. Softbank Group CORP. bought a new position in Recursion Pharmaceuticals in the 4th quarter worth about $99,152,000. Kinnevik AB publ grew its position in Recursion Pharmaceuticals by 12.8% during the 1st quarter. Kinnevik AB publ now owns 13,434,171 shares of the company’s stock valued at $71,067,000 after purchasing an additional 1,528,503 shares during the last quarter. Novo Holdings A S bought a new stake in Recursion Pharmaceuticals during the 4th quarter valued at about $68,375,000. Finally, Geode Capital Management LLC lifted its stake in shares of Recursion Pharmaceuticals by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 6,087,149 shares of the company’s stock worth $41,160,000 after buying an additional 655,238 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Trading Down 16.5 %

The stock has a market cap of $1.91 billion, a P/E ratio of -3.11 and a beta of 0.99. 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 firm’s 50 day moving average price is $5.75 and its 200-day moving average price is $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.