Exscientia (NASDAQ:EXAI) Stock Price Down 6.5%

Exscientia plc (NASDAQ:EXAI) traded down 6.5% during mid-day trading on Friday . The stock traded as low as $4.76 and last traded at $4.76. 401,921 shares changed hands during trading, a decline of 42% from the average session volume of 687,854 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $7.00 target price on shares of Exscientia in a report on Monday, April 22nd. Bank of America lowered Exscientia from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $9.00 in a research report on Friday, January 5th.

Exscientia Stock Performance

The stock has a market cap of $564.56 million, a price-to-earnings ratio of -3.16 and a beta of 0.82. The firm has a fifty day simple moving average of $5.45 and a 200 day simple moving average of $5.82. The company has a current ratio of 6.22, a quick ratio of 6.22 and a debt-to-equity ratio of 0.05.

Exscientia (NASDAQ:EXAI) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.02. Exscientia had a negative net margin of 737.10% and a negative return on equity of 36.44%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $41.63 million. As a group, sell-side analysts expect that Exscientia plc will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On Exscientia

Several large investors have recently made changes to their positions in the company. Platinum Investment Management Ltd. increased its holdings in Exscientia by 10.2% in the third quarter. Platinum Investment Management Ltd. now owns 4,395,058 shares of the company’s stock valued at $19,866,000 after purchasing an additional 405,426 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in shares of Exscientia in the third quarter valued at about $1,040,000. Mitsubishi UFJ Trust & Banking Corp raised its position in Exscientia by 6.0% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 203,970 shares of the company’s stock valued at $922,000 after buying an additional 11,570 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Exscientia by 26.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 155,097 shares of the company’s stock valued at $701,000 after acquiring an additional 32,373 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Exscientia during the 3rd quarter worth approximately $362,000. Institutional investors and hedge funds own 41.58% of the company’s stock.

Exscientia Company Profile

Exscientia plc, an artificial intelligence (AI) driven Pharma-tech company, engages in design and develop differentiated medicines for diseases with high unmet patient needs. The company's lead product candidate GTAEXS617, a CDK7 inhibitor, which is currently in a Phase 1/2 trial to manage the potential toxicities associated with CDK7 as well as optimizing pharmacokinetics for maximizing on-target efficacy.