Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Grows By 19.2%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 3,946,749 shares, an increase of 19.2% from the March 31st total of 3,312,077 shares. Based on an average daily volume of 1,280,233 shares, the short-interest ratio is currently 3.1 days. Currently, 15.1% of the shares of the stock are sold short.

Analyst Ratings Changes

BTAI has been the topic of a number of research reports. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Rodman & Renshaw began coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Finally, Wall Street Zen raised BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioXcel Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $11.00.

BioXcel Therapeutics Price Performance

NASDAQ BTAI traded down $0.03 on Friday, hitting $1.20. 1,193,791 shares of the company were exchanged, compared to its average volume of 931,693. The company’s 50 day moving average price is $1.36 and its 200-day moving average price is $1.70. The firm has a market capitalization of $32.50 million, a P/E ratio of -0.18 and a beta of 0.31. BioXcel Therapeutics has a twelve month low of $1.01 and a twelve month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). As a group, equities analysts expect that BioXcel Therapeutics will post -2.35 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTAI. Millennium Management LLC grew its position in BioXcel Therapeutics by 78.5% during the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after purchasing an additional 807,139 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of BioXcel Therapeutics by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after purchasing an additional 80,928 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of BioXcel Therapeutics in the fourth quarter worth $204,000. State Street Corp boosted 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 worth $101,000 after buying an additional 10,500 shares during the period. Finally, Man Group plc purchased a new position in shares of BioXcel Therapeutics during the fourth quarter valued at $91,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.