BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Down 23.1% in January

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

Institutional Trading of BioXcel Therapeutics

A hedge fund recently bought a new stake in BioXcel Therapeutics stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 30,295 shares of the company’s stock, valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.08% of BioXcel Therapeutics as of its most recent filing with the SEC. 30.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BTAI. Canaccord Genuity Group reduced their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 6th. HC Wainwright reduced their price objective on BioXcel Therapeutics from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America reissued an “underperform” rating and set a $0.25 target price (down from $7.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th.

BioXcel Therapeutics Trading Up 1.0 %

Shares of BTAI opened at $0.33 on Friday. The firm has a market capitalization of $16.18 million, a price-to-earnings ratio of -0.15 and a beta of -0.01. The firm’s fifty day simple moving average is $0.39 and its 200-day simple moving average is $0.60. BioXcel Therapeutics has a twelve month low of $0.30 and a twelve month high of $4.17.

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.