BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Down 1.2% – Should You Sell?

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) shares traded down 1.2% during trading on Thursday . The company traded as low as $0.7462 and last traded at $0.7928. 759,177 shares traded hands during trading, a decline of 47% from the average daily volume of 1,420,637 shares. The stock had previously closed at $0.8024.

Analysts Set New Price Targets

Several research firms have recently weighed in on BTAI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Friday, July 17th. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.00.

BioXcel Therapeutics Price Performance

The business’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.32. The firm has a market capitalization of $24.95 million, a PE ratio of -0.14 and a beta of 0.27.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.38 million. Analysts expect that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics in the first quarter worth $50,000. Geode Capital Management LLC lifted its stake in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth about $42,000. Diversify Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth about $27,000. Finally, Millennium Management LLC bought a new position in shares of BioXcel Therapeutics during the 3rd quarter valued at about $2,632,000. 30.68% of the stock is owned by institutional investors.

BioXcel Therapeutics Company Profile

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.