BioXcel Therapeutics (NASDAQ:BTAI) Issues Quarterly Earnings Results

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings data on Friday. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01), FiscalAI reports. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.38 million.

BioXcel Therapeutics Price Performance

Shares of BTAI stock opened at $1.14 on Friday. The stock has a market cap of $30.87 million, a PE ratio of -0.20 and a beta of 0.31. The stock has a 50-day moving average of $1.28 and a 200-day moving average of $1.62. BioXcel Therapeutics has a one year low of $1.01 and a one year high of $8.08.

Institutional Trading of BioXcel Therapeutics

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in BioXcel Therapeutics by 78.5% during the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after purchasing an additional 807,139 shares in the last quarter. Geode Capital Management LLC increased its stake in BioXcel Therapeutics by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after purchasing an additional 80,928 shares in the last quarter. Jane Street Group LLC acquired a new position in BioXcel Therapeutics during the 4th quarter worth approximately $204,000. State Street Corp boosted its position in BioXcel Therapeutics by 19.9% during the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after acquiring an additional 10,500 shares during the last quarter. Finally, Man Group plc acquired a new position in BioXcel Therapeutics during the 4th quarter worth approximately $91,000. 30.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Monday, April 20th. Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective for the company. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, HC Wainwright dropped their price objective on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

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.