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 published on Monday, Benzinga reports. The firm currently has a $7.00 target price on the stock.

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

Exscientia Stock Down 3.4 %

EXAI stock opened at $3.99 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.22 and a quick ratio of 6.22. The company has a market cap of $482.35 million, a price-to-earnings ratio of -2.70 and a beta of 0.78. The company has a fifty day moving average price of $5.69 and a 200 day moving average price of $5.84. Exscientia has a 12 month low of $3.86 and a 12 month high of $9.12.

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

Institutional Investors Weigh In On Exscientia

A number of large investors have recently added to or reduced their stakes in EXAI. Platinum Investment Management Ltd. grew its stake in Exscientia by 10.2% in the 3rd quarter. Platinum Investment Management Ltd. now owns 4,395,058 shares of the company’s stock valued at $19,866,000 after acquiring an additional 405,426 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in Exscientia in the 3rd quarter valued at about $1,040,000. Federated Hermes Inc. purchased a new position in Exscientia in the 3rd quarter valued at about $362,000. DekaBank Deutsche Girozentrale purchased a new position in Exscientia in the 3rd quarter valued at about $344,000. Finally, Jump Financial LLC purchased a new position in Exscientia in the 3rd quarter valued at about $165,000. 41.58% of the stock is owned by institutional investors and hedge funds.

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.