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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 576,400 shares, an increase of 11.6% from the September 30th total of 516,400 shares. Based on an average daily trading volume, of 495,000 shares, the short-interest ratio is currently 1.2 days.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock traded up $0.02 on Wednesday, reaching $0.73. 775,300 shares of the company’s stock were exchanged, compared to its average volume of 847,212. The company has a market capitalization of $29.74 million, a P/E ratio of -0.15 and a beta of 0.28. BioXcel Therapeutics has a 52 week low of $0.51 and a 52 week high of $5.62. The firm’s 50-day moving average is $0.59 and its two-hundred day moving average is $1.24.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.55. The firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.80 million. During the same quarter in the prior year, the business earned ($1.83) earnings per share. On average, analysts expect that BioXcel Therapeutics will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioXcel Therapeutics during the second quarter worth $39,000. Rosalind Advisors Inc. acquired a new stake in shares of BioXcel Therapeutics in the 2nd quarter worth about $51,000. XTX Topco Ltd lifted its position in 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 in the last quarter. Vanguard Group Inc. lifted its position in BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares in the last quarter. Finally, Armistice Capital LLC boosted its stake in BioXcel Therapeutics by 705.2% during the 2nd 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. 30.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BTAI has been the topic of several analyst reports. UBS Group reduced their target price on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th. Finally, HC Wainwright lowered their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 21st.

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.