BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Significant Drop in Short Interest

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

Institutional Investors Weigh In On BioXcel Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after acquiring an additional 9,912 shares during the last quarter. Truist Financial Corp bought a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $32,000. XTX Topco Ltd boosted its stake in shares of BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $39,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $51,000. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Up 3.0 %

Shares of BioXcel Therapeutics stock opened at $0.66 on Friday. The firm has a market cap of $24.63 million, a PE ratio of -0.13 and a beta of 0.28. BioXcel Therapeutics has a 12-month low of $0.53 and a 12-month high of $5.62. The company’s fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $1.70.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The firm had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.80 million. During the same period last year, the business earned ($1.83) EPS. As a group, sell-side analysts expect that BioXcel Therapeutics will post -1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.