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

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

BioXcel Therapeutics Stock Up 1.0 %

Shares of NASDAQ:BTAI opened at $0.33 on Friday. BioXcel Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $4.17. The firm’s 50-day simple moving average is $0.39 and its 200-day simple moving average is $0.60. The company has a market cap of $16.18 million, a price-to-earnings ratio of -0.15 and a beta of -0.01.

Analyst Ratings Changes

A number of analysts recently weighed in on BTAI shares. Bank of America reiterated an “underperform” rating and set a $0.25 price target (down previously from $7.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. HC Wainwright decreased their target price on shares of BioXcel Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

Institutional Investors Weigh In On BioXcel Therapeutics

A hedge fund recently bought a new stake in BioXcel Therapeutics stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 30,295 shares of the company’s stock, valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. owned 0.08% of BioXcel Therapeutics at the end of the most recent reporting period. 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.