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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 221,300 shares, a decrease 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 trading volume of 4,360,000 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On BioXcel Therapeutics

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

BioXcel Therapeutics Price Performance

Shares of BTAI traded down $0.17 on Monday, reaching $1.95. 181,999 shares of the stock traded hands, compared to its average volume of 1,157,932. The firm has a market cap of $6.25 million, a price-to-earnings ratio of -0.06 and a beta of 0.89. The stock’s 50-day moving average price is $3.19 and its 200-day moving average price is $6.44. BioXcel Therapeutics has a 12 month low of $1.72 and a 12 month high of $49.58.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Thursday, March 27th. The company reported ($3.57) earnings per share for the quarter, beating the consensus estimate of ($4.36) by $0.79. The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.72 million. As a group, equities research analysts forecast that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rodman & Renshaw started coverage on BioXcel Therapeutics in a report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Bank of America reiterated an “underperform” rating and issued a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Canaccord Genuity Group cut their target price on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, RODMAN&RENSHAW upgraded BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

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.