Exscientia (NASDAQ:EXAI) Sees Strong Trading Volume – Time to Buy?

Shares of Exscientia plc (NASDAQ:EXAI) saw an uptick in trading volume on Monday . 1,195,302 shares were traded during trading, an increase of 90% from the previous session’s volume of 630,734 shares.The stock last traded at $6.13 and had previously closed at $5.44.

Analysts Set New Price Targets

EXAI has been the topic of several analyst reports. TD Cowen reissued a “hold” rating on shares of Exscientia in a report on Friday, August 9th. Barclays reiterated an “equal weight” rating and issued a $5.00 price target on shares of Exscientia in a research note on Tuesday, August 13th.

Exscientia Stock Performance

The company has a current ratio of 4.54, a quick ratio of 5.93 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $5.03 and a 200-day moving average price of $5.14.

Exscientia (NASDAQ:EXAI) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). Exscientia had a negative net margin of 882.09% and a negative return on equity of 49.10%. The company had revenue of $5.60 million for the quarter. On average, research analysts predict that Exscientia plc will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exscientia

A number of hedge funds have recently added to or reduced their stakes in EXAI. EntryPoint Capital LLC grew its holdings in shares of Exscientia by 22.8% in the first quarter. EntryPoint Capital LLC now owns 31,171 shares of the company’s stock worth $178,000 after acquiring an additional 5,784 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Exscientia by 108.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 388,459 shares of the company’s stock valued at $1,981,000 after purchasing an additional 202,377 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Exscientia during the 2nd quarter valued at about $115,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Exscientia in the second quarter worth approximately $54,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Exscientia in the second quarter worth approximately $256,000. 41.58% of the stock is currently owned by hedge funds and other institutional investors.

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.