Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Grows By 79.8%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 624,100 shares, an increase of 79.8% from the October 31st total of 347,100 shares. Based on an average daily volume of 517,700 shares, the short-interest ratio is currently 1.2 days.

BioXcel Therapeutics Trading Down 9.7 %

Shares of BTAI stock traded down $0.04 on Friday, reaching $0.41. 1,961,694 shares of the stock were exchanged, compared to its average volume of 827,952. The company has a market capitalization of $17.47 million, a price-to-earnings ratio of -0.21 and a beta of 0.29. The business’s 50 day moving average price is $0.58 and its 200 day moving average price is $0.95. BioXcel Therapeutics has a twelve month low of $0.40 and a twelve month high of $4.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC raised its position in shares of BioXcel Therapeutics by 705.2% during the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after acquiring an additional 2,616,027 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioXcel Therapeutics during the second quarter worth approximately $39,000. XTX Topco Ltd lifted its position in shares of BioXcel Therapeutics by 49.0% during 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 last quarter. Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after buying an additional 9,912 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $51,000. 30.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BTAI has been the subject of a number of research analyst reports. HC Wainwright cut their target price on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a research note on Friday, August 30th. Finally, UBS Group lowered their target price on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

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.