BioXcel Therapeutics (NASDAQ:BTAI) Trading Up 2.7% – Here’s What Happened

BioXcel Therapeutics, Inc. (NASDAQ:BTAI)’s stock price rose 2.7% during trading on Friday . The stock traded as high as $1.16 and last traded at $1.14. Approximately 488,737 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 668,358 shares. The stock had previously closed at $1.11.

Analyst Upgrades and Downgrades

BTAI has been the topic of several recent research reports. HC Wainwright lowered their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen lowered 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Monday, April 20th. Finally, Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

BioXcel Therapeutics Stock Performance

The firm’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.52. The firm has a market capitalization of $35.20 million, a PE ratio of -0.20 and a beta of 0.30.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results 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 firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.38 million. On average, equities research analysts expect that BioXcel Therapeutics, Inc. will post -2.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds have recently modified their holdings of BTAI. Diversify Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $27,000. HRT Financial LP acquired a new position in shares of BioXcel Therapeutics during the 4th quarter worth about $28,000. XTX Topco Ltd acquired a new position in shares of BioXcel Therapeutics during the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. acquired a new position in shares of BioXcel Therapeutics during the 1st quarter worth about $50,000. Finally, Geode Capital Management LLC raised its position in shares of BioXcel Therapeutics by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

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.