Canaccord Genuity Group Cuts BioXcel Therapeutics (NASDAQ:BTAI) Price Target to $5.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price target cut by Canaccord Genuity Group from $7.00 to $5.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

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

BioXcel Therapeutics Trading Up 38.5 %

NASDAQ BTAI opened at $0.57 on Monday. BioXcel Therapeutics has a 12-month low of $0.30 and a 12-month high of $4.17. The company has a fifty day simple moving average of $0.49 and a two-hundred day simple moving average of $0.70. The stock has a market cap of $28.45 million, a P/E ratio of -0.27 and a beta of -0.01.

Institutional Trading of BioXcel Therapeutics

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioXcel Therapeutics during the second quarter valued at $39,000. XTX Topco Ltd raised its stake in shares of BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after buying an additional 15,291 shares during the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of BioXcel Therapeutics by 705.2% in 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 during the period. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.