Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Decreases By 84.3%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 250,700 shares, a decline of 84.3% from the January 15th total of 1,600,000 shares. Based on an average daily volume of 120,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 9.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have weighed in on BTAI. HC Wainwright decreased their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group decreased their price objective on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Bank of America reaffirmed an “underperform” rating and set a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th.

Institutional Trading of BioXcel Therapeutics

An institutional investor recently raised its position in BioXcel Therapeutics stock. Geode Capital Management LLC boosted its position in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 311,965 shares of the company’s stock after purchasing an additional 13,922 shares during the period. Geode Capital Management LLC owned about 0.63% of BioXcel Therapeutics worth $117,000 as of its most recent filing with the SEC. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Price Performance

Shares of BioXcel Therapeutics stock traded down $0.39 on Thursday, hitting $2.42. 313,996 shares of the company’s stock traded hands, compared to its average volume of 215,628. The firm’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $8.59. The stock has a market capitalization of $119.91 million, a PE ratio of -1.13 and a beta of -0.01. BioXcel Therapeutics has a one year low of $2.16 and a one year high of $61.12.

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.