BioXcel Therapeutics (NASDAQ:BTAI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of BioXcel Therapeutics (NASDAQ:BTAI) from a hold rating to a sell rating in a report published on Saturday.

BTAI has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright dropped their price objective on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI opened at $1.14 on Friday. The company’s fifty day moving average price is $1.28 and its 200 day moving average price is $1.62. BioXcel Therapeutics has a 12 month low of $1.01 and a 12 month high of $8.08. The firm has a market capitalization of $30.87 million, a P/E ratio of -0.20 and a beta of 0.31.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.38 million. On average, sell-side analysts anticipate that BioXcel Therapeutics will post -2.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in shares of BioXcel Therapeutics by 78.5% in the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock valued at $2,936,000 after acquiring an additional 807,139 shares in the last quarter. Man Group plc purchased a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at about $91,000. State Street Corp boosted its holdings 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 valued at $101,000 after acquiring an additional 10,500 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at about $204,000. Finally, HRT Financial LP purchased a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at about $28,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.