BioXcel Therapeutics (NASDAQ:BTAI) Price Target Lowered to $5.00 at Canaccord Genuity Group

BioXcel Therapeutics (NASDAQ:BTAI) had its price target decreased by research analysts at Canaccord Genuity Group from $7.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, HC Wainwright lowered their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, October 21st.

BioXcel Therapeutics Stock Up 5.6 %

Shares of BTAI opened at $0.41 on Monday. The stock’s 50-day moving average price is $0.49 and its 200 day moving average price is $0.70. The firm has a market capitalization of $20.55 million, a price-to-earnings ratio of -0.19 and a beta of -0.01. BioXcel Therapeutics has a 12-month low of $0.30 and a 12-month high of $4.17.

Institutional Trading of BioXcel Therapeutics

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd lifted its holdings 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 acquiring an additional 15,291 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics during the 2nd quarter valued at about $39,000. Finally, Armistice Capital LLC boosted its position in BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after buying an additional 2,616,027 shares in the last quarter. 30.68% of the stock is currently owned by institutional investors.

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.