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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a growth of 16.8% from the November 30th total of 898,700 shares. Based on an average daily trading volume, of 613,300 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright dropped their price objective on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st.

BioXcel Therapeutics Price Performance

Shares of BTAI stock traded up $0.01 during trading hours on Tuesday, reaching $0.37. The company had a trading volume of 848,866 shares, compared to its average volume of 841,668. BioXcel Therapeutics has a 1-year low of $0.30 and a 1-year high of $4.17. The company has a 50 day moving average of $0.51 and a 200 day moving average of $0.72. The firm has a market cap of $15.98 million, a price-to-earnings ratio of -0.17 and a beta of 0.11.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its stake in shares of BioXcel Therapeutics by 49.0% in the 2nd 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics during the 2nd quarter worth approximately $39,000. Finally, Armistice Capital LLC grew its holdings in BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after purchasing an additional 2,616,027 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.