BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Down 1.2% – Here’s Why

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) traded down 1.2% on Thursday . The company traded as low as $0.7462 and last traded at $0.7928. Approximately 759,177 shares traded hands during trading, a decline of 47% from the average session volume of 1,420,637 shares. The stock had previously closed at $0.8024.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BTAI. HC Wainwright lowered their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.00.

BioXcel Therapeutics Price Performance

The company has a market cap of $24.48 million, a PE ratio of -0.14 and a beta of 0.27. The company has a fifty day moving average price of $1.10 and a 200 day moving average price of $1.32.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTAI. Diversify Wealth Management LLC bought a new stake in BioXcel Therapeutics during the second quarter worth about $27,000. HRT Financial LP bought a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $28,000. XTX Topco Ltd bought a new stake in BioXcel Therapeutics in the 2nd quarter worth approximately $42,000. Goldman Sachs Group Inc. purchased a new stake in BioXcel Therapeutics in the first quarter worth approximately $50,000. Finally, Geode Capital Management LLC boosted its stake in BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares in the last quarter. Institutional investors own 30.68% of the company’s stock.

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.