BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Drop in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 1,140,000 shares, a decline of 28.3% from the September 30th total of 1,590,000 shares. Based on an average trading volume of 9,700,000 shares, the short-interest ratio is presently 0.1 days. Approximately 6.0% of the shares of the stock are short sold. Approximately 6.0% of the shares of the stock are short sold. Based on an average trading volume of 9,700,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BTAI shares. Zacks Research cut shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of BioXcel Therapeutics in a research report on Monday, September 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, BioXcel Therapeutics has a consensus rating of “Hold” and an average target price of $39.75.

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Oaktree Capital Management LP acquired a new position in BioXcel Therapeutics in the 2nd quarter valued at about $437,000. Murchinson Ltd. acquired a new position in BioXcel Therapeutics in the 1st quarter valued at about $276,000. Oaktree Fund Advisors LLC acquired a new position in BioXcel Therapeutics in the 2nd quarter valued at about $78,000. SLT Holdings LLC acquired a new position in BioXcel Therapeutics in the 3rd quarter valued at about $76,000. Finally, Goldman Sachs Group Inc. acquired a new position in BioXcel Therapeutics in the 1st quarter valued at about $50,000. 30.68% of the stock is owned by institutional investors.

BioXcel Therapeutics Trading Down 5.1%

Shares of BTAI stock traded down $0.11 on Monday, hitting $1.95. The stock had a trading volume of 493,674 shares, compared to its average volume of 4,475,435. The firm has a market cap of $31.14 million, a P/E ratio of -0.15 and a beta of 0.18. BioXcel Therapeutics has a twelve month low of $1.17 and a twelve month high of $12.16. The company has a fifty day moving average price of $2.96 and a two-hundred day moving average price of $2.46.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.30) by ($0.15). The company had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $0.21 million. On average, analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current year.

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.