BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Down 64.4% in September

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 1,440,000 shares, a drop of 64.4% from the August 31st total of 4,050,000 shares. Based on an average daily trading volume, of 9,460,000 shares, the short-interest ratio is currently 0.2 days. Approximately 10.3% of the shares of the company are sold short. Approximately 10.3% of the shares of the company are sold short. Based on an average daily trading volume, of 9,460,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oaktree Capital Management LP acquired a new stake in shares of BioXcel Therapeutics in the second quarter worth $437,000. Murchinson Ltd. purchased a new stake in BioXcel Therapeutics in the 1st quarter worth about $276,000. Squarepoint Ops LLC boosted its position in BioXcel Therapeutics by 203.9% during the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after acquiring an additional 48,336 shares during the period. Oaktree Fund Advisors LLC purchased a new position in BioXcel Therapeutics during the 2nd quarter valued at about $78,000. Finally, Northern Trust Corp increased its holdings in shares of BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after purchasing an additional 33,161 shares during the period. Institutional investors own 30.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BTAI shares. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of BioXcel Therapeutics in a report on Monday, September 15th. Zacks Research lowered shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

BioXcel Therapeutics Trading Up 2.7%

BioXcel Therapeutics stock opened at $2.64 on Friday. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $13.28. The stock has a market cap of $42.27 million, a price-to-earnings ratio of -0.21 and a beta of 0.18. The company’s 50-day moving average price is $3.57 and its two-hundred day moving average price is $2.39.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.21 million. Research analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

BioXcel Therapeutics Company Profile

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.