BioXcel Therapeutics (NASDAQ:BTAI) Price Target Lowered to $5.00 at Canaccord Genuity Group

BioXcel Therapeutics (NASDAQ:BTAI) had its price target lowered by Canaccord Genuity Group from $7.00 to $5.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright lowered their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 21st.

BioXcel Therapeutics Stock Up 38.5 %

Shares of NASDAQ BTAI opened at $0.57 on Monday. BioXcel Therapeutics has a twelve month low of $0.30 and a twelve month high of $4.17. The business has a fifty day simple moving average of $0.49 and a two-hundred day simple moving average of $0.70. The firm has a market cap of $28.45 million, a PE ratio of -0.27 and a beta of -0.01.

Institutional Trading of BioXcel Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd lifted its stake in shares of BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics in the second quarter worth about $39,000. Finally, Armistice Capital LLC raised its holdings in BioXcel Therapeutics by 705.2% in the second 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. Institutional investors own 30.68% of the company’s stock.

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.