BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $11.80.

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research report on Thursday, June 27th. Bank of America dropped their target price on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of BioXcel Therapeutics in a research report on Friday, May 10th.

BioXcel Therapeutics Stock Performance

Shares of BTAI opened at $1.08 on Wednesday. The business’s 50-day moving average is $1.67 and its two-hundred day moving average is $2.47. The company has a market capitalization of $40.53 million, a P/E ratio of -0.21 and a beta of 0.32. BioXcel Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $12.40.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Thursday, May 9th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19). The firm had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $0.42 million. During the same quarter in the previous year, the business earned ($1.84) EPS. Analysts forecast that BioXcel Therapeutics will post -2.61 EPS for the current year.

Insider Buying and Selling

In related news, CEO Vimal Mehta sold 126,014 shares of BioXcel Therapeutics stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $1.63, for a total value of $205,402.82. Following the sale, the chief executive officer now directly owns 7,811,515 shares in the company, valued at approximately $12,732,769.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 128,520 shares of company stock worth $208,611. Insiders own 35.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of BioXcel Therapeutics by 239.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after purchasing an additional 9,754 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after purchasing an additional 9,912 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at approximately $31,000. Truist Financial Corp purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at approximately $32,000. Finally, Virtu Financial LLC purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at approximately $176,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.