BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Decrease in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 807,700 shares, a decline of 23.1% from the December 15th total of 1,050,000 shares. Based on an average daily trading volume, of 801,400 shares, the short-interest ratio is presently 1.0 days.

BioXcel Therapeutics Trading Down 2.9 %

NASDAQ BTAI opened at $0.35 on Thursday. The stock has a fifty day simple moving average of $0.46 and a 200-day simple moving average of $0.66. The stock has a market cap of $17.20 million, a PE ratio of -0.16 and a beta of -0.01. BioXcel Therapeutics has a twelve month low of $0.30 and a twelve month high of $4.17.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BTAI shares. Bank of America reissued an “underperform” rating and set a $0.25 price target (down previously from $7.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. Canaccord Genuity Group dropped their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, HC Wainwright cut their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioXcel Therapeutics in the 2nd quarter valued at approximately $39,000. XTX Topco Ltd increased its holdings in BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares during the last quarter. Finally, Armistice Capital LLC raised its position in BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after purchasing an additional 2,616,027 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.