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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 221,300 shares, a drop of 33.0% from the February 28th total of 330,500 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average daily volume of 4,360,000 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BTAI shares. RODMAN&RENSHAW upgraded shares of BioXcel Therapeutics to a “strong-buy” rating in a report on Wednesday, March 19th. HC Wainwright lowered their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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 research report on Tuesday, January 7th. Finally, Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.60.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI traded down $0.17 on Monday, hitting $1.95. 181,999 shares of the company’s stock were exchanged, compared to its average volume of 1,157,932. The company has a market cap of $6.25 million, a P/E ratio of -0.06 and a beta of 0.89. The firm has a 50-day moving average price of $3.19 and a 200-day moving average price of $6.44. BioXcel Therapeutics has a 52 week low of $1.72 and a 52 week high of $49.58.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($3.57) EPS for the quarter, beating the consensus estimate of ($4.36) by $0.79. The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.72 million. On average, research analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its position in BioXcel Therapeutics by 203.9% during the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after acquiring an additional 48,336 shares in the last quarter. Northern Trust Corp increased its stake in shares of BioXcel Therapeutics by 81.4% during the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after purchasing an additional 13,952 shares during the period. Finally, Geode Capital Management LLC lifted its stake in BioXcel Therapeutics by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares during the last quarter. 30.68% of the stock is 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.