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

by · The Markets Daily

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Free Report) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 807,700 shares, a decrease of 23.1% from the December 31st total of 1,050,000 shares. Based on an average trading volume of 801,400 shares, the short-interest ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BTAI. HC Wainwright decreased their target price on BioXcel Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America restated an “underperform” rating and set a $0.25 price objective (down previously from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group decreased their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Read Our Latest Research Report on BTAI

Institutional Investors Weigh In On BioXcel Therapeutics

A hedge fund recently raised its stake in BioXcel Therapeutics stock. XTX Topco Ltd increased its stake in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Free Report) by 49.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,503 shares of the company’s stock after purchasing an additional 15,291 shares during the quarter. XTX Topco Ltd owned approximately 0.12% of BioXcel Therapeutics worth $60,000 as of its most recent filing with the SEC. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Stock Up 1.0 %

Shares of BioXcel Therapeutics stock opened at $0.33 on Friday. BioXcel Therapeutics has a 12 month low of $0.30 and a 12 month high of $4.17. The business has a fifty day simple moving average of $0.39 and a 200-day simple moving average of $0.60.

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.

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