BioXcel Therapeutics’ (BTAI) “Underperform” Rating Reiterated at Bank of America

Bank of America reaffirmed their underperform rating on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research report released on Tuesday,Benzinga reports. They currently have a $0.25 price target on the stock, down from their prior price target of $7.00.

A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday. HC Wainwright decreased their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 21st.

BioXcel Therapeutics Trading Down 18.2 %

Shares of BTAI opened at $0.39 on Tuesday. The firm has a market cap of $19.13 million, a PE ratio of -0.18 and a beta of -0.01. The firm has a fifty day simple moving average of $0.48 and a two-hundred day simple moving average of $0.69. BioXcel Therapeutics has a 1-year low of $0.30 and a 1-year high of $4.17.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds have recently modified their holdings of the business. Armistice Capital LLC grew its position in shares of BioXcel Therapeutics by 705.2% during the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after acquiring an additional 2,616,027 shares during the period. XTX Topco Ltd grew its position in shares of BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at $39,000. Institutional investors own 30.68% of the company’s stock.

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.