BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Up 16.8% in December

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a growth of 16.8% from the November 30th total of 898,700 shares. Based on an average daily volume of 613,300 shares, the short-interest ratio is currently 1.7 days.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price target on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

BioXcel Therapeutics Stock Up 1.9 %

NASDAQ:BTAI traded up $0.01 on Tuesday, reaching $0.37. The stock had a trading volume of 848,866 shares, compared to its average volume of 841,668. The company has a market capitalization of $15.98 million, a P/E ratio of -0.17 and a beta of 0.11. BioXcel Therapeutics has a 1-year low of $0.30 and a 1-year high of $4.17. The stock has a fifty day moving average price of $0.51 and a 200-day moving average price of $0.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioXcel Therapeutics during the 2nd quarter worth about $39,000. XTX Topco Ltd raised its stake in shares of BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after acquiring an additional 15,291 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in shares of BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares in the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

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.