Recursion Pharmaceuticals (NASDAQ:RXRX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Recursion Pharmaceuticals (NASDAQ:RXRX) posted its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.02, Zacks reports. The firm had revenue of $5.18 million for the quarter, compared to the consensus estimate of $19.36 million. Recursion Pharmaceuticals had a negative return on equity of 76.09% and a negative net margin of 1,004.91%.The business’s revenue for the quarter was down 80.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) EPS.

Recursion Pharmaceuticals Stock Down 5.5%

Shares of RXRX traded down $0.26 on Friday, hitting $4.37. The company’s stock had a trading volume of 30,989,216 shares, compared to its average volume of 29,749,309. The firm’s fifty day moving average price is $5.27 and its 200-day moving average price is $5.20. Recursion Pharmaceuticals has a fifty-two week low of $3.79 and a fifty-two week high of $12.36. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.46 and a beta of 0.93.

Insider Buying and Selling

In related news, insider Najat Khan sold 36,599 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $5.52, for a total value of $202,026.48. Following the sale, the insider directly owned 668,197 shares of the company’s stock, valued at approximately $3,688,447.44. The trade was a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RXRX. NewEdge Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 28.1% in the second quarter. NewEdge Advisors LLC now owns 11,061 shares of the company’s stock valued at $56,000 after purchasing an additional 2,428 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Recursion Pharmaceuticals by 29.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,706 shares of the company’s stock valued at $64,000 after purchasing an additional 2,883 shares in the last quarter. Brighton Jones LLC increased its stake in Recursion Pharmaceuticals by 49.4% in the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company’s stock valued at $137,000 after buying an additional 6,699 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Recursion Pharmaceuticals by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,434 shares of the company’s stock worth $953,000 after buying an additional 12,372 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Recursion Pharmaceuticals during the 1st quarter worth about $77,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $7.25.

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.