BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Up 0.5% – Here’s Why

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) rose 0.5% during trading on Monday . The company traded as high as $2.02 and last traded at $2.02. Approximately 696,818 shares traded hands during trading, an increase of 34% from the average daily volume of 520,797 shares. The stock had previously closed at $2.01.

Analyst Ratings Changes

BTAI has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of BioXcel Therapeutics in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.50.

BioXcel Therapeutics Trading Up 0.5%

The company has a market capitalization of $44.18 million, a P/E ratio of -0.21 and a beta of 0.21. The stock’s fifty day moving average is $1.87 and its 200 day moving average is $2.55.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The business had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.20 million. On average, analysts expect that BioXcel Therapeutics, Inc. will post -24.39 EPS for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BTAI. Millennium Management LLC purchased a new position in shares of BioXcel Therapeutics during the third quarter valued at approximately $2,632,000. Oaktree Capital Management LP bought a new position in BioXcel Therapeutics in the second quarter worth about $437,000. Oaktree Fund Advisors LLC bought a new position in BioXcel Therapeutics in the second quarter worth about $78,000. Foundations Investment Advisors LLC purchased a new stake in BioXcel Therapeutics in the third quarter worth about $76,000. Finally, SLT Holdings LLC bought a new stake in BioXcel Therapeutics during the 3rd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.