BioXcel Therapeutics (NASDAQ:BTAI) Price Target Lowered to $6.00 at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI) had its target price reduced by HC Wainwright from $10.00 to $6.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on BTAI. Zacks Research cut shares of BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.50.

BioXcel Therapeutics Trading Down 2.4%

Shares of BioXcel Therapeutics stock opened at $1.61 on Thursday. The firm has a market cap of $35.21 million, a PE ratio of -0.17 and a beta of 0.18. The stock has a 50 day moving average of $1.70 and a 200 day moving average of $2.31. BioXcel Therapeutics has a 12 month low of $1.17 and a 12 month high of $8.08.

Institutional Trading of BioXcel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of BioXcel Therapeutics by 78.5% during the fourth 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 during the last quarter. Oaktree Capital Management LP bought a new stake in BioXcel Therapeutics during the 2nd quarter valued at about $437,000. Geode Capital Management LLC lifted its holdings in BioXcel Therapeutics by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after buying an additional 80,928 shares in the last quarter. Jane Street Group LLC purchased a new stake in BioXcel Therapeutics in the 4th quarter valued at about $204,000. Finally, State Street Corp grew its stake in BioXcel Therapeutics by 19.9% in the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after acquiring an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

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.