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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 347,100 shares, a decline of 39.8% from the October 15th total of 576,400 shares. Based on an average daily volume of 478,700 shares, the short-interest ratio is currently 0.7 days.

BioXcel Therapeutics Stock Up 9.2 %

BTAI stock traded up $0.05 during midday trading on Friday, hitting $0.57. The company’s stock had a trading volume of 447,699 shares, compared to its average volume of 828,469. BioXcel Therapeutics has a 12 month low of $0.50 and a 12 month high of $4.52. The company has a 50 day moving average of $0.60 and a two-hundred day moving average of $1.07. The firm has a market capitalization of $23.15 million, a price-to-earnings ratio of -0.16 and a beta of 0.29.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BioXcel Therapeutics during the second quarter valued at about $39,000. Rosalind Advisors Inc. bought a new position in BioXcel Therapeutics during the second quarter valued at approximately $51,000. XTX Topco Ltd grew its holdings in BioXcel Therapeutics by 49.0% during the 2nd 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 in the last quarter. 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. Finally, Armistice Capital LLC raised its holdings 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 worth $3,823,000 after acquiring an additional 2,616,027 shares in the last quarter. 30.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BTAI shares. 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 note on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research report on Friday, August 30th. Finally, HC Wainwright cut their price objective on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 21st.

BioXcel Therapeutics Company Profile

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.