BioXcel Therapeutics (NASDAQ:BTAI) Issues Earnings Results

BioXcel Therapeutics (NASDAQ:BTAI) released its earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05), FiscalAI reports. The business had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.48 million.

BioXcel Therapeutics Stock Up 5.3%

NASDAQ:BTAI opened at $1.19 on Friday. BioXcel Therapeutics has a 52-week low of $0.74 and a 52-week high of $6.85. The stock has a fifty day simple moving average of $1.04 and a 200-day simple moving average of $1.25. The company has a market capitalization of $36.74 million, a PE ratio of -0.31 and a beta of 0.31.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of 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. Man Group plc purchased a new position in BioXcel Therapeutics during the fourth quarter worth $91,000. State Street Corp lifted its position in shares of BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after acquiring an additional 10,500 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at $204,000. Finally, HRT Financial LP acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Friday, July 17th. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

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.