BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Decrease in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 265,500 shares, adeclineof24.6% from the July 15th total of 352,200 shares. Approximately4.8% of the company’s stock are short sold. Based on an average daily volume of 6,140,000 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 6,140,000 shares, the short-interest ratio is currently 0.0 days. Approximately4.8% of the company’s stock are short sold.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after acquiring an additional 13,952 shares during the last quarter. Northern Trust Corp grew its position in shares of BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after acquiring an additional 33,161 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of BioXcel Therapeutics by 203.9% during the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after acquiring an additional 48,336 shares during the last quarter. Geode Capital Management LLC grew its position in shares of BioXcel Therapeutics by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after acquiring an additional 13,922 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of BioXcel Therapeutics during the first quarter worth about $50,000. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Trading Down 4.8%

NASDAQ:BTAI opened at $4.98 on Friday. The firm has a market capitalization of $30.16 million, a PE ratio of -0.39 and a beta of 0.05. The stock has a 50 day moving average of $2.69 and a 200-day moving average of $2.22. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, August 12th. The company reported ($2.45) EPS for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, analysts predict that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HC Wainwright boosted their target price on shares of BioXcel Therapeutics to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Wall Street Zen downgraded shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.75.

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.