Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Decreases By 61.4%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 626,100 shares, a drop of 61.4% from the June 30th total of 1,620,000 shares. Based on an average daily volume of 637,100 shares, the short-interest ratio is currently 1.0 days.

Insider Transactions at BioXcel Therapeutics

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

Institutional Investors Weigh In On BioXcel Therapeutics

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $176,000. Apollon Wealth Management LLC acquired a new position in BioXcel Therapeutics during the 4th quarter worth $31,000. Truist Financial Corp bought a new position in BioXcel Therapeutics in the 4th quarter valued at $32,000. Pennant Investors LP acquired a new stake in shares of BioXcel Therapeutics in the 4th quarter valued at $248,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of BioXcel Therapeutics by 239.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after buying an additional 9,754 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BTAI. Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a report on Thursday, June 27th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, BioXcel Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $11.80.

BioXcel Therapeutics Stock Up 2.6 %

NASDAQ BTAI opened at $1.20 on Friday. BioXcel Therapeutics has a 1-year low of $1.04 and a 1-year high of $10.43. The stock’s 50 day moving average is $1.41 and its two-hundred day moving average is $2.34.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.19). The company had revenue of $0.58 million during the quarter, compared to analyst estimates of $0.42 million. During the same quarter last year, the company posted ($1.84) earnings per share. Research analysts predict that BioXcel Therapeutics will post -2.74 earnings per share for the current fiscal year.

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.