BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Significant Increase in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 330,500 shares, an increase of 16.2% from the February 13th total of 284,500 shares. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is presently 0.1 days. Approximately 12.1% of the company’s shares are sold short.

BioXcel Therapeutics Trading Down 0.4 %

NASDAQ:BTAI opened at $2.36 on Friday. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58. The stock has a market cap of $7.57 million, a price-to-earnings ratio of -0.07 and a beta of 0.89. The stock has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $6.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its position in shares of BioXcel Therapeutics by 203.9% during the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after buying an additional 48,336 shares during the period. Northern Trust Corp boosted its position in shares of BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after buying an additional 33,161 shares during the period. Wells Fargo & Company MN boosted its position in shares of BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after buying an additional 13,952 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of BioXcel Therapeutics by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after buying an additional 13,922 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BTAI. HC Wainwright decreased their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Canaccord Genuity Group decreased their price objective on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America reaffirmed an “underperform” rating and set a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Finally, Rodman & Renshaw began coverage on BioXcel Therapeutics in a research note on Wednesday. They set a “buy” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.60.

About BioXcel Therapeutics

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.