Insider Selling: BioXcel Therapeutics (NASDAQ:BTAI) CEO Sells 19,419 Shares of Stock

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) CEO Vimal Mehta sold 19,419 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $1.09, for a total transaction of $21,166.71. Following the transaction, the chief executive officer directly owned 69,598 shares of the company’s stock, valued at $75,861.82. This represents a 21.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BioXcel Therapeutics Stock Performance

NASDAQ:BTAI traded down $0.01 during trading hours on Friday, hitting $1.13. The company’s stock had a trading volume of 348,912 shares, compared to its average volume of 1,191,390. The business’s 50-day moving average is $1.24 and its two-hundred day moving average is $1.59. The company has a market capitalization of $34.89 million, a PE ratio of -0.20 and a beta of 0.31. BioXcel Therapeutics, Inc. has a 52-week low of $1.01 and a 52-week high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.38 million. As a group, analysts predict that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after buying an additional 6,120 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of BioXcel Therapeutics by 38.5% in the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after buying an additional 10,000 shares in the last quarter. State Street Corp increased 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 buying an additional 10,500 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics in the second quarter valued at $27,000. Finally, HRT Financial LP purchased a new position in shares of BioXcel Therapeutics in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BTAI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. HC Wainwright dropped their target price on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research raised shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BioXcel Therapeutics has an average rating of “Hold” and a consensus target price of $11.00.

About BioXcel Therapeutics

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.