Morgan Stanley Reiterates Equal Weight Rating for Exscientia (NASDAQ:EXAI)

Morgan Stanley reissued their equal weight rating on shares of Exscientia (NASDAQ:EXAI) in a report released on Monday, Benzinga reports. Morgan Stanley currently has a $7.00 price target on the stock.

Separately, Bank of America lowered shares of Exscientia from a buy rating to a neutral rating and reduced their price objective for the stock from $11.00 to $9.00 in a research note on Friday, January 5th.

Exscientia Trading Down 3.4 %

NASDAQ:EXAI opened at $3.99 on Monday. Exscientia has a one year low of $3.86 and a one year high of $9.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.22 and a current ratio of 6.22. The firm has a market cap of $482.35 million, a P/E ratio of -2.70 and a beta of 0.78. The firm has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $5.84.

Exscientia (NASDAQ:EXAI) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.42) EPS for the quarter, beating 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 business had revenue of $3.10 million during the quarter, compared to analyst estimates of $41.63 million. Equities analysts anticipate that Exscientia will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EXAI. Bank of New York Mellon Corp raised its stake in shares of Exscientia by 26.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 155,097 shares of the company’s stock worth $701,000 after acquiring an additional 32,373 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in Exscientia during the 3rd quarter worth approximately $1,040,000. Platinum Investment Management Ltd. grew its position in Exscientia by 10.2% during the 3rd quarter. Platinum Investment Management Ltd. now owns 4,395,058 shares of the company’s stock worth $19,866,000 after purchasing an additional 405,426 shares during the last quarter. Jump Financial LLC purchased a new stake in Exscientia during the 3rd quarter worth approximately $165,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Exscientia by 6.0% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 203,970 shares of the company’s stock worth $922,000 after purchasing an additional 11,570 shares during the last quarter. Institutional investors 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.