BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 626,100 shares, a decline of 61.4% from the June 30th total of 1,620,000 shares. Based on an average daily trading volume, of 637,100 shares, the days-to-cover ratio is presently 1.0 days.

BioXcel Therapeutics Stock Up 2.6 %

NASDAQ:BTAI opened at $1.20 on Friday. The company has a 50-day moving average price of $1.41 and a 200-day moving average price of $2.34. BioXcel Therapeutics has a 12 month low of $1.04 and a 12 month high of $10.43.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Thursday, May 9th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19). The firm had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $0.42 million. During the same quarter in the prior year, the company posted ($1.84) earnings per share. Research analysts forecast that BioXcel Therapeutics will post -2.74 earnings per share for the current year.

Insider Buying and Selling at BioXcel Therapeutics

In related news, CEO Vimal Mehta sold 126,014 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total transaction of $205,402.82. Following the sale, the chief executive officer now owns 7,811,515 shares of the company’s stock, valued at approximately $12,732,769.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 128,520 shares of company stock valued at $208,611 in the last quarter. 35.80% of the stock is currently owned by corporate insiders.

Institutional Trading of BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BTAI. Vanguard Group Inc. lifted its position in shares of BioXcel Therapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares in the last quarter. Pennant Investors LP bought a new position in BioXcel Therapeutics during the fourth quarter valued at $248,000. Virtu Financial LLC bought a new position in BioXcel Therapeutics during the fourth quarter valued at $176,000. Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth $51,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of BioXcel Therapeutics by 239.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after buying an additional 9,754 shares during the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BTAI. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of BioXcel Therapeutics in a report on Friday, May 10th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a research report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, BioXcel Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

BioXcel Therapeutics Company Profile

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.