HC Wainwright Issues Pessimistic Forecast for BioXcel Therapeutics (NASDAQ:BTAI) Stock Price

BioXcel Therapeutics (NASDAQ:BTAI) had its price target cut by stock analysts at HC Wainwright from $5.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other brokerages have also recently issued reports on BTAI. Bank of America reaffirmed an “underperform” rating and issued a $0.25 target price (down from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Canaccord Genuity Group decreased their target price 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 Price Performance

NASDAQ:BTAI opened at $0.33 on Thursday. BioXcel Therapeutics has a one year low of $0.30 and a one year high of $4.17. The company’s 50-day simple moving average is $0.40 and its 200 day simple moving average is $0.60. The firm has a market capitalization of $16.38 million, a P/E ratio of -0.15 and a beta of -0.01.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioXcel Therapeutics stock. XTX Topco Ltd raised its holdings in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 49.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,503 shares of the company’s stock after buying an additional 15,291 shares during the period. XTX Topco Ltd owned about 0.12% of BioXcel Therapeutics worth $60,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.