BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 1,620,000 shares, a growth of 8.7% from the June 15th total of 1,490,000 shares. Based on an average daily trading volume, of 588,800 shares, the days-to-cover ratio is currently 2.8 days.

Insiders Place Their Bets

In other news, CEO Vimal Mehta sold 126,014 shares of BioXcel Therapeutics stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $1.63, for a total transaction of $205,402.82. Following the transaction, the chief executive officer now directly owns 7,811,515 shares in the company, valued at approximately $12,732,769.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 128,520 shares of company stock worth $208,611. 35.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BioXcel Therapeutics

Large investors have recently made changes to their positions in the business. Rosalind Advisors Inc. purchased a new position in BioXcel Therapeutics in the second quarter valued at about $51,000. Vanguard Group Inc. lifted its holdings in shares of BioXcel Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after buying an additional 9,912 shares during the last quarter. Virtu Financial LLC acquired a new position in BioXcel Therapeutics in the fourth quarter worth approximately $176,000. Pennant Investors LP bought a new position in BioXcel Therapeutics during the fourth quarter valued at approximately $248,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of BioXcel Therapeutics by 239.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after purchasing an additional 9,754 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

NASDAQ BTAI traded down $0.06 on Wednesday, hitting $1.28. 1,710,446 shares of the stock were exchanged, compared to its average volume of 1,040,266. The company’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $2.41. BioXcel Therapeutics has a 52-week low of $1.04 and a 52-week high of $12.21. The company has a market capitalization of $48.04 million, a price-to-earnings ratio of -0.23 and a beta of 0.32.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19). The firm 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 earned ($1.84) EPS. Equities analysts predict that BioXcel Therapeutics will post -2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BTAI. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research note on Thursday, June 27th. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a research report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.80.

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.