Why Recursion Pharmaceuticals (RXRX) Dipped More Than Broader Market Today
Recursion Pharmaceuticals (RXRX) closed the most recent trading day at $3.16, moving -1.71% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.59%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 0.65%.
The biotechnology company's stock has dropped by 2.28% in the past month, falling short of the Medical sector's loss of 0.36% and the S&P 500's loss of 1.37%.
The upcoming earnings release of Recursion Pharmaceuticals will be of great interest to investors. The company is predicted to post an EPS of -$0.24, indicating a 33.33% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $8.42 million, up 62.57% from the prior-year quarter.
RXRX's full-year Zacks Consensus Estimates are calling for earnings of -$0.92 per share and revenue of $40.32 million. These results would represent year-over-year changes of +36.11% and -46.01%, respectively.
Investors should also note any recent changes to analyst estimates for Recursion Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 2.59% fall in the Zacks Consensus EPS estimate. Recursion Pharmaceuticals is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
