BioXcel Therapeutics (NASDAQ:BTAI) Price Target Cut to $5.00 by Analysts at Canaccord Genuity Group

BioXcel Therapeutics (NASDAQ:BTAI) had its price target lowered by analysts at Canaccord Genuity Group from $7.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, October 21st.

BioXcel Therapeutics Trading Up 5.6 %

NASDAQ BTAI opened at $0.41 on Monday. The company has a market capitalization of $20.55 million, a PE ratio of -0.19 and a beta of -0.01. BioXcel Therapeutics has a twelve month low of $0.30 and a twelve month high of $4.17. The business’s 50-day moving average price is $0.49 and its 200 day moving average price is $0.70.

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC boosted its stake 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 buying an additional 2,616,027 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $39,000. Finally, XTX Topco Ltd grew its holdings in BioXcel Therapeutics by 49.0% during the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

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.