BioXcel Therapeutics (NASDAQ:BTAI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings data on Friday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01), FiscalAI reports. The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million.

BioXcel Therapeutics Price Performance

Shares of NASDAQ BTAI traded down $0.07 during mid-day trading on Friday, reaching $1.14. 573,930 shares of the company traded hands, compared to its average volume of 1,229,785. BioXcel Therapeutics has a fifty-two week low of $1.01 and a fifty-two week high of $8.08. The firm has a market cap of $30.87 million, a PE ratio of -0.17 and a beta of 0.31. The stock has a fifty day simple moving average of $1.29 and a 200-day simple moving average of $1.63.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in shares of BioXcel Therapeutics by 78.5% during the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock valued at $2,936,000 after acquiring an additional 807,139 shares during the period. Geode Capital Management LLC grew its position in BioXcel Therapeutics by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after buying an additional 80,928 shares during the last quarter. Jane Street Group LLC acquired a new position in BioXcel Therapeutics in the fourth quarter worth approximately $204,000. State Street Corp grew its position in BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after buying an additional 10,500 shares during the last quarter. Finally, Man Group plc acquired a new position in BioXcel Therapeutics in the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

Analysts Set New Price Targets

BTAI has been the topic of a number of recent research reports. Wall Street Zen upgraded BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Zacks Research raised shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Rodman & Renshaw started coverage on shares of BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BioXcel Therapeutics presently has an average rating of “Hold” and a consensus price target of $11.00.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.