BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Significant Increase in Short Interest

by · The Cerbat Gem

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 576,400 shares, an increase of 11.6% from the September 30th total of 516,400 shares. Based on an average daily volume of 495,000 shares, the days-to-cover ratio is presently 1.2 days.

BioXcel Therapeutics Price Performance

Shares of BTAI stock traded down $0.05 during trading hours on Thursday, hitting $0.67. The stock had a trading volume of 412,006 shares, compared to its average volume of 845,502. The stock has a market capitalization of $27.17 million, a price-to-earnings ratio of -0.14 and a beta of 0.28. The stock’s 50-day moving average price is $0.59 and its two-hundred day moving average price is $1.23. BioXcel Therapeutics has a one year low of $0.51 and a one year high of $5.62.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BTAI. HC Wainwright lowered their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th. Finally, UBS Group decreased their price target on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, August 9th.

Get Our Latest Stock Report on BTAI

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC increased its position in shares of BioXcel Therapeutics by 705.2% during the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after purchasing an additional 2,616,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioXcel Therapeutics in the second quarter valued at $39,000. 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. Vanguard Group Inc. boosted its stake in shares of BioXcel Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after purchasing an additional 9,912 shares during the period. Finally, Rosalind Advisors Inc. bought a new position in BioXcel Therapeutics during the 2nd quarter valued at about $51,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

(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.

Featured Articles