BioXcel Therapeutics (NASDAQ:BTAI) Issues Earnings Results

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05), FiscalAI reports. The firm had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.48 million.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI traded up $0.07 on Thursday, hitting $1.13. The company’s stock had a trading volume of 1,073,859 shares, compared to its average volume of 1,109,209. The company has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.25. BioXcel Therapeutics has a 1 year low of $0.74 and a 1 year high of $6.85. The company has a market capitalization of $34.89 million, a PE ratio of -0.20 and a beta of 0.31.

Analyst Upgrades and Downgrades

BTAI has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Friday, July 17th. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in BioXcel Therapeutics in the first quarter valued at approximately $50,000. Geode Capital Management LLC grew its stake in BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares in the last quarter. XTX Topco Ltd bought a new position in shares of BioXcel Therapeutics in the 2nd quarter worth $42,000. Diversify Wealth Management LLC bought a new position in shares of BioXcel Therapeutics in the 2nd quarter worth $27,000. Finally, Millennium Management LLC purchased a new stake in shares of BioXcel Therapeutics during the 3rd quarter valued at $2,632,000. 30.68% of the stock is currently owned by institutional investors.

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.