BioXcel Therapeutics (NASDAQ:BTAI) Now Covered by Analysts at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report published on Wednesday,Benzinga reports. The firm issued a buy rating and a $65.00 price objective on the stock.

Several other research firms have also issued reports on BTAI. HC Wainwright reduced their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group reduced their price objective on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America reissued an “underperform” rating and issued a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.60.

BioXcel Therapeutics Trading Up 7.7 %

Shares of BTAI stock opened at $2.37 on Wednesday. The stock has a 50 day simple moving average of $3.69 and a 200 day simple moving average of $6.80. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58. The stock has a market cap of $7.60 million, a P/E ratio of -0.07 and a beta of 0.89.

Institutional Trading of BioXcel Therapeutics

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC lifted its holdings in shares of BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after acquiring an additional 48,336 shares during the last quarter. Northern Trust Corp grew its holdings in shares of BioXcel Therapeutics by 81.4% during the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after purchasing an additional 33,161 shares during the last quarter. Wells Fargo & Company MN increased its position in BioXcel Therapeutics by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after purchasing an additional 13,952 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in BioXcel Therapeutics by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

About BioXcel Therapeutics

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.