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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 576,400 shares, a growth of 11.6% from the September 30th total of 516,400 shares. Based on an average daily volume of 495,000 shares, the days-to-cover ratio is currently 1.2 days.

BioXcel Therapeutics Stock Up 6.6 %

Shares of NASDAQ BTAI traded up $0.04 during midday trading on Tuesday, hitting $0.71. 590,821 shares of the company’s stock were exchanged, compared to its average volume of 847,542. BioXcel Therapeutics has a 12 month low of $0.51 and a 12 month high of $5.62. The company’s 50 day moving average price is $0.59 and its 200 day moving average price is $1.24. The firm has a market capitalization of $28.96 million, a PE ratio of -0.14 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.55. The company had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.80 million. During the same quarter in the prior year, the firm earned ($1.83) earnings per share. On average, equities research analysts anticipate that BioXcel Therapeutics will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% during the first 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 period. XTX Topco Ltd increased its stake in shares of BioXcel Therapeutics by 49.0% during the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioXcel Therapeutics during the 2nd quarter worth approximately $39,000. Rosalind Advisors Inc. bought a new stake in BioXcel Therapeutics in the 2nd quarter valued at $51,000. Finally, Armistice Capital LLC grew its holdings in BioXcel Therapeutics by 705.2% in 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 in the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BTAI shares. 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 report on Monday, October 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a research note on Friday, August 30th. Finally, UBS Group lowered their price objective on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th.

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.