Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Declines By 23.1%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 807,700 shares, a decline of 23.1% from the December 15th total of 1,050,000 shares. Based on an average daily volume of 801,400 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently modified their holdings of BTAI. Armistice Capital LLC boosted its holdings in BioXcel Therapeutics by 705.2% in the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after buying an additional 2,616,027 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics in the 2nd quarter worth approximately $39,000. Finally, XTX Topco Ltd boosted its holdings in BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after buying an additional 15,291 shares during the period. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Analysts Set New Price Targets

BTAI has been the subject of several research analyst reports. Bank of America reiterated an “underperform” rating and set a $0.25 price target (down from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. HC Wainwright lowered their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Canaccord Genuity Group lowered their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, January 6th.

BioXcel Therapeutics Trading Down 0.5 %

NASDAQ BTAI traded down $0.00 during trading hours on Friday, hitting $0.34. The company’s stock had a trading volume of 894,849 shares, compared to its average volume of 1,188,345. BioXcel Therapeutics has a 52 week low of $0.30 and a 52 week high of $4.17. The company has a market capitalization of $17.07 million, a PE ratio of -0.16 and a beta of -0.01. The company’s 50-day simple moving average is $0.44 and its two-hundred day simple moving average is $0.65.

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.