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

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

Institutional Trading of BioXcel Therapeutics

Several institutional investors have recently bought and sold shares of BTAI. Armistice Capital LLC lifted its position 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 valued at $3,823,000 after buying an additional 2,616,027 shares in the last quarter. XTX Topco Ltd lifted its holdings in BioXcel Therapeutics by 49.0% during the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $39,000. 30.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BTAI has been the subject of a number of recent research reports. Bank of America reiterated an “underperform” rating and set a $0.25 price objective (down previously from $7.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Canaccord Genuity Group reduced their price target on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, HC Wainwright lowered their price objective on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, October 21st.

BioXcel Therapeutics Stock Down 2.9 %

NASDAQ:BTAI opened at $0.35 on Thursday. BioXcel Therapeutics has a 52 week low of $0.30 and a 52 week high of $4.17. The stock’s 50-day moving average price is $0.46 and its 200-day moving average price is $0.66. The stock has a market capitalization of $17.20 million, a PE ratio of -0.16 and a beta of -0.01.

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.