BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Down 26.0% in September

by · The Cerbat Gem

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 516,400 shares, a decline of 26.0% from the September 15th total of 697,600 shares. Based on an average daily volume of 564,600 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in BioXcel Therapeutics in the 4th quarter worth about $176,000. Armistice Capital LLC increased 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 acquiring an additional 2,616,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics in the 2nd quarter worth about $39,000. XTX Topco Ltd increased its stake in 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. Finally, Vanguard Group Inc. increased its stake in BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after acquiring an additional 9,912 shares during the last quarter. 30.68% of the stock is currently owned by institutional investors.

BioXcel Therapeutics Stock Up 2.2 %

BTAI traded up $0.01 during trading on Friday, reaching $0.53. 251,180 shares of the company were exchanged, compared to its average volume of 879,917. The company’s 50-day moving average is $0.63 and its two-hundred day moving average is $1.42. The company has a market cap of $21.45 million, a price-to-earnings ratio of -0.15 and a beta of 0.28. BioXcel Therapeutics has a 12-month low of $0.51 and a 12-month high of $5.62.

BioXcel Therapeutics (NASDAQ:BTAI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $0.80 million. During the same period last year, the company posted ($1.83) EPS. Equities analysts forecast that BioXcel Therapeutics will post -1.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BTAI shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of BioXcel Therapeutics in a research report on Friday, September 6th. UBS Group dropped their price target on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of BioXcel Therapeutics in a research report on Friday, August 30th.

Read Our Latest Stock Report on BioXcel Therapeutics

About BioXcel Therapeutics

(Get Free Report)

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.

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