BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Growth in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 330,500 shares, an increase of 16.2% from the February 13th total of 284,500 shares. Approximately 12.1% of the shares of the company are short sold. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BTAI. Squarepoint Ops LLC lifted its position in BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the period. Northern Trust Corp lifted its position in BioXcel Therapeutics by 81.4% in the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after acquiring an additional 13,952 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of BioXcel Therapeutics by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after acquiring an additional 13,922 shares during the period. 30.68% of the stock is owned by institutional investors.

BioXcel Therapeutics Trading Up 5.5 %

BTAI stock traded up $0.12 during midday trading on Wednesday, hitting $2.32. The stock had a trading volume of 3,838,280 shares, compared to its average volume of 1,147,768. The firm has a market capitalization of $7.44 million, a price-to-earnings ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 52 week low of $1.72 and a 52 week high of $49.58. The stock has a 50-day simple moving average of $3.76 and a 200 day simple moving average of $6.83.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BTAI. HC Wainwright lowered their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Canaccord Genuity Group lowered their price objective on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America restated an “underperform” rating and issued a $4.00 price objective (down previously from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Finally, Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.60.

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.