Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 5.3% Following Weak Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 5.3% during mid-day trading on Monday following a dissappointing earnings announcement. The company traded as low as $7.07 and last traded at $7.11. Approximately 8,143,605 shares changed hands during trading, a decline of 68% from the average daily volume of 25,618,289 shares. The stock had previously closed at $7.51.

The company reported ($0.53) earnings per share (EPS) 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 the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company’s quarterly revenue was down 57.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.42) EPS.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. Leerink Partners cut their price objective on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday. KeyCorp lowered their target price on shares of 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, Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.25.

Institutional Trading of Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Softbank Group CORP. acquired a new stake in Recursion Pharmaceuticals in the fourth quarter valued at approximately $99,152,000. Novo Holdings A S acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $68,375,000. Vanguard Group Inc. lifted 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 valued at $229,908,000 after acquiring an additional 9,737,196 shares during the period. ARK Investment Management LLC boosted its position in shares of Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after buying an additional 4,626,268 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Down 5.8 %

The firm’s 50 day moving average is $7.72 and its two-hundred day moving average is $7.09. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -4.64 and a beta of 0.86. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

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.