BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on BTAI. HC Wainwright lowered their target price on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Bank of America reaffirmed an “underperform” rating and issued a $0.25 price objective (down from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group dropped their target price on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 6th.

BioXcel Therapeutics Trading Down 0.5 %

Shares of BTAI opened at $0.34 on Friday. The stock has a market capitalization of $17.07 million, a PE ratio of -0.16 and a beta of -0.01. The firm’s 50 day moving average is $0.44 and its 200-day moving average is $0.65. BioXcel Therapeutics has a 12 month low of $0.30 and a 12 month high of $4.17.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at $39,000. XTX Topco Ltd raised its stake in 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 purchasing an additional 15,291 shares in the last quarter. Finally, Armistice Capital LLC lifted its position in BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares during the period. Institutional investors own 30.68% of the company’s stock.

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.