BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Up 2.7% – Time to Buy?
by Scott Moore · The Cerbat GemBioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Free Report) shares traded up 2.7% on Friday . The stock traded as high as $1.16 and last traded at $1.14. 488,737 shares were traded during trading, a decline of 27% from the average session volume of 668,358 shares. The stock had previously closed at $1.11.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Rodman & Renshaw assumed coverage on shares of BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright reduced their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
Read Our Latest Stock Analysis on BioXcel Therapeutics
BioXcel Therapeutics Trading Up 2.7%
The company has a market cap of $35.20 million, a price-to-earnings ratio of -0.20 and a beta of 0.30. The stock’s fifty day simple moving average is $1.15 and its 200 day simple moving average is $1.52.
BioXcel Therapeutics (NASDAQ:BTAI – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million. On average, analysts predict that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current year.
Institutional Trading of BioXcel Therapeutics
Hedge funds have recently bought and sold shares of the business. Diversify Wealth Management LLC acquired a new stake in BioXcel Therapeutics in the 2nd quarter valued at about $27,000. HRT Financial LP acquired a new stake in BioXcel Therapeutics in the 4th quarter valued at about $28,000. XTX Topco Ltd acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth approximately $42,000. Goldman Sachs Group Inc. acquired a new stake in shares of BioXcel Therapeutics during the 1st quarter worth approximately $50,000. Finally, Geode Capital Management LLC increased its holdings in shares of BioXcel Therapeutics by 27.7% during 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 during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.
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.