Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Rises By 44.0%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large increase in short interest in the month of 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.

Hedge Funds Weigh In On BioXcel Therapeutics

Several large investors have recently made changes to their positions in the business. Armistice Capital LLC lifted 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 worth $3,823,000 after purchasing an additional 2,616,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in BioXcel Therapeutics in the 2nd quarter valued at $39,000. XTX Topco Ltd lifted its stake in BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after purchasing an additional 9,912 shares during the last quarter. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Trading Up 0.5 %

Shares of BTAI traded up $0.00 during trading hours on Friday, reaching $0.41. 249,883 shares of the stock traded hands, compared to its average volume of 829,139. The company has a market cap of $17.62 million, a P/E ratio of -0.19 and a beta of 0.11. The company’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $0.82. BioXcel Therapeutics has a 52-week low of $0.36 and a 52-week high of $4.17.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BTAI shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a report on Friday, August 30th. HC Wainwright decreased their price objective 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.

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.