BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 347,100 shares, a decline of 39.8% from the October 15th total of 576,400 shares. Based on an average daily volume of 478,700 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BTAI. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a report on Friday, August 30th. UBS Group decreased their price objective on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, HC Wainwright dropped their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st.

Institutional Trading of BioXcel Therapeutics

A number of large investors have recently made changes to their positions in BTAI. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BioXcel Therapeutics during the second quarter valued at $39,000. Rosalind Advisors Inc. bought a new position in shares of BioXcel Therapeutics during the 2nd quarter worth approximately $51,000. XTX Topco Ltd increased its position in shares of BioXcel Therapeutics by 49.0% during the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BioXcel Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after purchasing an additional 9,912 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in shares of BioXcel Therapeutics by 705.2% in the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Stock Down 15.1 %

NASDAQ BTAI traded down $0.09 during trading hours on Thursday, reaching $0.53. The company’s stock had a trading volume of 557,288 shares, compared to its average volume of 829,334. The firm’s 50-day moving average price is $0.60 and its 200-day moving average price is $1.09. BioXcel Therapeutics has a 1 year low of $0.51 and a 1 year high of $4.89. The company has a market capitalization of $21.42 million, a price-to-earnings ratio of -0.16 and a beta of 0.29.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.