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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 680,500 shares, a drop of 6.9% from the August 15th total of 731,200 shares. Based on an average daily volume of 558,500 shares, the days-to-cover ratio is currently 1.2 days.

BioXcel Therapeutics Stock Performance

Shares of BTAI opened at $0.64 on Thursday. BioXcel Therapeutics has a fifty-two week low of $0.53 and a fifty-two week high of $5.62. The company’s fifty day moving average is $0.85 and its 200 day moving average is $1.71. The stock has a market capitalization of $23.91 million, a PE ratio of -0.12 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.55. The business had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $0.80 million. During the same quarter in the prior year, the company posted ($1.83) earnings per share. As a group, research analysts forecast that BioXcel Therapeutics will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BTAI. UBS Group cut their price objective on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a report on Friday, September 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors have recently modified their holdings of BTAI. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics during the 2nd quarter valued at $39,000. Armistice Capital LLC raised its stake in shares of BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after acquiring an additional 2,616,027 shares during the period. XTX Topco Ltd lifted its holdings in shares of BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after acquiring an additional 15,291 shares during the last quarter. Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics during the 2nd quarter worth about $51,000. Finally, Vanguard Group Inc. grew its holdings in 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 purchasing an additional 9,912 shares during the last quarter. 30.68% of the stock is owned by institutional investors.

About BioXcel Therapeutics

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.