Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Rises By 79.8%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 624,100 shares, a growth of 79.8% from the October 31st total of 347,100 shares. Based on an average daily volume of 517,700 shares, the short-interest ratio is currently 1.2 days.

BioXcel Therapeutics Stock Down 9.7 %

BTAI traded down $0.04 on Friday, hitting $0.41. 1,961,694 shares of the company traded hands, compared to its average volume of 827,952. The company has a 50 day moving average of $0.58 and a 200-day moving average of $0.95. BioXcel Therapeutics has a 12-month low of $0.40 and a 12-month high of $4.17. The stock has a market capitalization of $17.47 million, a PE ratio of -0.21 and a beta of 0.29.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently modified their holdings of the stock. Armistice Capital LLC increased its stake 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 during the period. Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares in the last quarter. 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 acquiring an additional 15,291 shares during the period. Rosalind Advisors Inc. acquired a new position in shares of BioXcel Therapeutics during the second quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioXcel Therapeutics in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a research report on Friday, August 30th. HC Wainwright lowered their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, UBS Group reduced their price target on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a research report on Friday, August 9th.

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.