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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant increase in short interest during 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 volume of 495,000 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently modified their holdings of the stock. Armistice Capital LLC boosted its stake in BioXcel Therapeutics by 705.2% in the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of BioXcel Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after buying an additional 9,912 shares during the period. XTX Topco Ltd grew 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 buying an additional 15,291 shares during the last quarter. Rosalind Advisors Inc. acquired a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in BioXcel Therapeutics in the 2nd quarter worth $39,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

BTAI traded down $0.05 during trading on Thursday, hitting $0.67. The stock had a trading volume of 412,006 shares, compared to its average volume of 845,502. The stock has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $1.23. BioXcel Therapeutics has a twelve month low of $0.51 and a twelve month high of $5.62. The company has a market capitalization of $27.17 million, a PE ratio of -0.14 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The business had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.80 million. During the same period in the previous year, the business earned ($1.83) EPS. On average, equities research analysts anticipate that BioXcel Therapeutics will post -1.84 EPS for the current year.

Wall Street Analyst Weigh In

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

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.