BioXcel Therapeutics Inc (NASDAQ:BTAI) Short Interest Update

BioXcel Therapeutics Inc (NASDAQ:BTAI) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 410,800 shares, an increase of 61.4% from the September 15th total of 254,600 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is currently 6.4 days.

Shares of NASDAQ:BTAI traded down $0.28 on Monday, hitting $4.30. The company had a trading volume of 6,795 shares, compared to its average volume of 87,601. BioXcel Therapeutics has a 1-year low of $2.41 and a 1-year high of $12.00. The stock has a market cap of $75.51 million, a price-to-earnings ratio of -3.26 and a beta of 2.96. The stock has a 50 day moving average price of $7.80 and a 200 day moving average price of $9.73. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 0.04.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.02). Sell-side analysts anticipate that BioXcel Therapeutics will post -2.22 earnings per share for the current fiscal year.

BTAI has been the topic of a number of recent analyst reports. BMO Capital Markets set a $21.00 target price on shares of BioXcel Therapeutics and gave the stock a “buy” rating in a report on Wednesday, September 18th. Zacks Investment Research upgraded shares of BioXcel Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. HC Wainwright set a $25.00 target price on shares of BioXcel Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, ValuEngine upgraded shares of BioXcel Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $19.75.

In other news, CEO Vimal Mehta bought 2,983 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $8.64 per share, for a total transaction of $25,773.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Mueller bought 8,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $8.74 per share, for a total transaction of $73,818.04. The disclosure for this purchase can be found here. In the last three months, insiders bought 18,976 shares of company stock worth $165,104. 64.80% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in BTAI. BlackRock Inc. increased its holdings in shares of BioXcel Therapeutics by 1,988.0% in the second quarter. BlackRock Inc. now owns 299,145 shares of the company’s stock valued at $3,278,000 after purchasing an additional 284,818 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of BioXcel Therapeutics by 21.6% in the third quarter. Artemis Investment Management LLP now owns 1,190,184 shares of the company’s stock valued at $8,365,000 after acquiring an additional 211,169 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of BioXcel Therapeutics by 45.4% in the second quarter. Vanguard Group Inc. now owns 259,301 shares of the company’s stock valued at $2,842,000 after acquiring an additional 80,959 shares in the last quarter. Northern Trust Corp grew its stake in shares of BioXcel Therapeutics by 247.7% in the second quarter. Northern Trust Corp now owns 43,822 shares of the company’s stock valued at $481,000 after acquiring an additional 31,218 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of BioXcel Therapeutics by 59.8% in the second quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock valued at $785,000 after acquiring an additional 26,800 shares in the last quarter. Hedge funds and other institutional investors own 20.39% of the company’s stock.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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