Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Declines By 16.1%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 2,090,000 shares, a decrease of 16.1% from the March 31st total of 2,490,000 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is presently 1.4 days.

BioXcel Therapeutics Trading Down 1.9 %

Shares of NASDAQ BTAI traded down $0.05 during midday trading on Monday, hitting $2.58. 339,009 shares of the company’s stock were exchanged, compared to its average volume of 1,284,985. BioXcel Therapeutics has a 12-month low of $1.91 and a 12-month high of $29.56. The company has a market cap of $95.54 million, a price-to-earnings ratio of -0.42 and a beta of 0.40. The business’s fifty day moving average price is $2.86 and its two-hundred day moving average price is $3.18.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.17 million. Equities analysts expect that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BTAI has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $4.00 price objective (down from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a research note on Tuesday, April 23rd. Canaccord Genuity Group cut their target price on BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Bank of America decreased their price target on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.71.

Institutional Trading of BioXcel Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of BTAI. Bank of New York Mellon Corp boosted its stake in shares of BioXcel Therapeutics by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock valued at $324,000 after purchasing an additional 14,901 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of BioXcel Therapeutics by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock valued at $86,000 after buying an additional 16,032 shares during the last quarter. Virtu Financial LLC bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at about $176,000. Pennant Investors LP purchased a new position in shares of BioXcel Therapeutics in the fourth quarter worth about $248,000. Finally, Truist Financial Corp bought a new stake in shares of BioXcel Therapeutics in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.