BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Up 16.8% in December

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, an increase of 16.8% from the November 30th total of 898,700 shares. Based on an average trading volume of 613,300 shares, the short-interest ratio is presently 1.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC raised its holdings 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics during the 2nd quarter valued at approximately $39,000. Finally, XTX Topco Ltd boosted its holdings in shares of BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares in the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, October 21st.

BioXcel Therapeutics Stock Up 1.9 %

BioXcel Therapeutics stock traded up $0.01 during mid-day trading on Tuesday, reaching $0.37. 848,866 shares of the company’s stock traded hands, compared to its average volume of 841,668. The stock has a 50 day moving average of $0.51 and a two-hundred day moving average of $0.72. The company has a market cap of $15.98 million, a price-to-earnings ratio of -0.17 and a beta of 0.11. BioXcel Therapeutics has a 12-month low of $0.30 and a 12-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.