Vimal Mehta Sells 19,419 Shares of BioXcel Therapeutics (NASDAQ:BTAI) Stock

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) CEO Vimal Mehta sold 19,419 shares of BioXcel Therapeutics stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $1.09, for a total value of $21,166.71. Following the transaction, the chief executive officer owned 69,598 shares of the company’s stock, valued at $75,861.82. The trade was a 21.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BioXcel Therapeutics Stock Performance

BioXcel Therapeutics stock opened at $1.13 on Friday. BioXcel Therapeutics, Inc. has a 52 week low of $1.01 and a 52 week high of $8.08. The stock has a market capitalization of $34.89 million, a P/E ratio of -0.20 and a beta of 0.31. The stock has a 50-day simple moving average of $1.23 and a 200 day simple moving average of $1.59.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.38 million. Research analysts forecast that BioXcel Therapeutics, Inc. will post -2.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on BTAI shares. Rodman & Renshaw started coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target for the company. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, HC Wainwright cut their price objective on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On BioXcel Therapeutics

Hedge funds have recently bought and sold shares of the stock. HRT Financial LP acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $28,000. XTX Topco Ltd acquired a new stake in BioXcel Therapeutics during the second quarter worth approximately $42,000. Millennium Management LLC lifted its position in 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 acquiring an additional 807,139 shares during the last quarter. Geode Capital Management LLC lifted its position in BioXcel Therapeutics by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after acquiring an additional 80,928 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $204,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.