Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Declines By 23.1%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 807,700 shares, a drop of 23.1% from the December 15th total of 1,050,000 shares. Based on an average daily volume of 801,400 shares, the short-interest ratio is presently 1.0 days.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ BTAI traded down $0.00 during midday trading on Friday, hitting $0.34. 894,849 shares of the company traded hands, compared to its average volume of 1,188,345. BioXcel Therapeutics has a 12-month low of $0.30 and a 12-month high of $4.17. The stock has a 50-day moving average price of $0.44 and a 200 day moving average price of $0.65. The firm has a market cap of $17.07 million, a P/E ratio of -0.16 and a beta of -0.01.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BTAI. HC Wainwright dropped their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st. Bank of America reaffirmed an “underperform” rating and set a $0.25 price objective (down from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BioXcel Therapeutics in the second quarter worth approximately $39,000. XTX Topco Ltd raised 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 purchasing an additional 15,291 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in shares of 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 last quarter. Institutional investors 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.