Exscientia (NASDAQ:EXAI) Trading Down 5%

Exscientia plc (NASDAQ:EXAI) shares were down 5% during mid-day trading on Friday . The stock traded as low as $4.14 and last traded at $4.14. Approximately 172,243 shares changed hands during trading, a decline of 76% from the average daily volume of 711,775 shares. The stock had previously closed at $4.36.

Analyst Ratings Changes

Separately, Bank of America cut Exscientia from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.00 to $9.00 in a report on Friday, January 5th.

Exscientia Price Performance

The company has a 50-day moving average price of $5.87 and a 200-day moving average price of $5.84. The firm has a market capitalization of $507.74 million, a P/E ratio of -2.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.22 and a current ratio of 6.22.

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

Hedge Funds Weigh In On Exscientia

Several institutional investors have recently modified their holdings of EXAI. GAMMA Investing LLC lifted its position in Exscientia by 112.1% in the 1st quarter. GAMMA Investing LLC now owns 4,356 shares of the company’s stock valued at $25,000 after acquiring an additional 2,302 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Exscientia during the 4th quarter worth about $68,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Exscientia in the 4th quarter valued at about $305,000. Balyasny Asset Management L.P. bought a new stake in shares of Exscientia in the fourth quarter valued at about $1,535,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Exscientia during the fourth quarter worth about $64,000. Institutional investors own 41.58% of the company’s stock.

About Exscientia

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.