The Manufacturers Life Insurance Company Sells 413 Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

The Manufacturers Life Insurance Company lessened its holdings in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,499 shares of the company’s stock after selling 413 shares during the period. The Manufacturers Life Insurance Company’s holdings in BioXcel Therapeutics were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in BioXcel Therapeutics by 176.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,083 shares of the company’s stock valued at $219,000 after acquiring an additional 3,247 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of BioXcel Therapeutics by 314.1% during the first quarter. Lindbrook Capital LLC now owns 762 shares of the company’s stock worth $33,000 after purchasing an additional 578 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of BioXcel Therapeutics by 1.8% during the first quarter. Artemis Investment Management LLP now owns 1,031,864 shares of the company’s stock worth $44,397,000 after purchasing an additional 18,416 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of BioXcel Therapeutics by 240.1% during the first quarter. DAVENPORT & Co LLC now owns 24,150 shares of the company’s stock worth $1,042,000 after purchasing an additional 17,050 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of BioXcel Therapeutics by 2.7% during the first quarter. HighPoint Advisor Group LLC now owns 12,673 shares of the company’s stock worth $455,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 44.61% of the company’s stock.

Several research firms have recently weighed in on BTAI. Truist reduced their price target on BioXcel Therapeutics from $150.00 to $127.00 in a report on Thursday, April 1st. HC Wainwright lifted their price objective on BioXcel Therapeutics from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, June 1st. Berenberg Bank started coverage on BioXcel Therapeutics in a research note on Friday, April 9th. They issued a “buy” rating and a $75.00 price objective on the stock. Canaccord Genuity cut their price objective on BioXcel Therapeutics from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, April 1st. Finally, Truist Securities cut their price objective on BioXcel Therapeutics from $150.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, April 1st. Eleven analysts have rated the stock with a buy rating, BioXcel Therapeutics presently has a consensus rating of “Buy” and an average target price of $101.91.

Shares of NASDAQ:BTAI opened at $37.96 on Friday. BioXcel Therapeutics, Inc. has a twelve month low of $28.00 and a twelve month high of $71.50. The stock’s 50 day moving average price is $33.85. The firm has a market capitalization of $935.03 million, a price-to-earnings ratio of -9.30 and a beta of 1.10.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Sunday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.19). On average, sell-side analysts anticipate that BioXcel Therapeutics, Inc. will post -4.48 EPS for the current fiscal year.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of adrenergic receptor agonist dexmedetomidine for the treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immune activator for the treatment of prostate and pancreatic cancers, and solid tumors.

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Institutional Ownership by Quarter for BioXcel Therapeutics (NASDAQ:BTAI)

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