BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Down 28.3% in October

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 1,140,000 shares, a decrease of 28.3% from the September 30th total of 1,590,000 shares. Based on an average daily volume of 9,700,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 6.0% of the company’s shares are sold short. Approximately 6.0% of the company’s shares are sold short. Based on an average daily volume of 9,700,000 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On BioXcel Therapeutics

Several institutional investors have recently bought and sold shares of BTAI. Murchinson Ltd. purchased a new position in BioXcel Therapeutics during the first quarter valued at approximately $276,000. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics during the first quarter valued at approximately $50,000. Geode Capital Management LLC increased its holdings in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after buying an additional 6,120 shares during the period. XTX Topco Ltd purchased a new position in BioXcel Therapeutics during the second quarter valued at approximately $42,000. Finally, Oaktree Capital Management LP bought a new position in BioXcel Therapeutics in the second quarter worth about $437,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Price Performance

BTAI stock opened at $1.86 on Wednesday. The business has a 50-day moving average price of $2.83 and a 200 day moving average price of $2.46. The company has a market capitalization of $29.78 million, a P/E ratio of -0.15 and a beta of 0.20. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $12.16.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, October 8th. Zacks Research downgraded BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of BioXcel Therapeutics in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.75.

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.