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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 680,500 shares, a decline of 6.9% from the August 15th total of 731,200 shares. Based on an average daily trading volume, of 558,500 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BTAI. UBS Group reduced their price target on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a research note on Friday, September 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, BioXcel Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Institutional Trading of BioXcel Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC raised 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 acquiring an additional 2,616,027 shares in the last quarter. Vanguard Group Inc. grew its stake in BioXcel Therapeutics by 0.9% in the first 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. Pennant Investors LP bought a new position in BioXcel Therapeutics in the fourth quarter worth about $248,000. Virtu Financial LLC purchased a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at about $176,000. Finally, XTX Topco Ltd lifted 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 valued at $60,000 after buying an additional 15,291 shares during the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Trading Down 1.5 %

Shares of BTAI stock opened at $0.63 on Wednesday. BioXcel Therapeutics has a twelve month low of $0.53 and a twelve month high of $5.62. The stock has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $1.73. The stock has a market capitalization of $23.66 million, a price-to-earnings ratio of -0.12 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.55. The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.80 million. During the same quarter in the prior year, the firm posted ($1.83) EPS. Research analysts predict that BioXcel Therapeutics will post -1.84 EPS for the current fiscal year.

About BioXcel Therapeutics

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.