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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 898,700 shares, an increase of 44.0% from the November 15th total of 624,100 shares. Based on an average trading volume of 622,000 shares, the short-interest ratio is presently 1.4 days.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research note on Friday, August 30th. HC Wainwright cut their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics during the 2nd quarter worth about $39,000. XTX Topco Ltd raised its position in shares of BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after buying an additional 15,291 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BioXcel Therapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after buying an additional 9,912 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in shares of BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after buying an additional 2,616,027 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Trading Up 0.5 %

Shares of BTAI stock opened at $0.41 on Friday. BioXcel Therapeutics has a 12 month low of $0.36 and a 12 month high of $4.17. The firm has a fifty day moving average price of $0.55 and a 200 day moving average price of $0.82. The company has a market cap of $17.62 million, a P/E ratio of -0.19 and a beta of 0.11.

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.