Armistice Capital LLC Acquires 2,616,027 Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

Armistice Capital LLC raised its holdings in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 705.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,987,000 shares of the company’s stock after purchasing an additional 2,616,027 shares during the period. Armistice Capital LLC owned 0.08% of BioXcel Therapeutics worth $3,823,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioXcel Therapeutics in the 2nd quarter worth approximately $39,000. XTX Topco Ltd boosted its holdings in BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after acquiring an additional 15,291 shares in the last quarter. Rosalind Advisors Inc. purchased a new stake in shares of BioXcel Therapeutics in the second quarter worth $51,000. Vanguard Group Inc. increased its holdings in shares of BioXcel Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of BioXcel Therapeutics in the 4th quarter worth about $176,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research report on Friday, August 30th. UBS Group cut their price target on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of BioXcel Therapeutics in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.50.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ:BTAI opened at $0.53 on Friday. The firm has a market cap of $21.77 million, a price-to-earnings ratio of -0.10 and a beta of 0.28. The business has a 50-day simple moving average of $0.76 and a two-hundred day simple moving average of $1.61. BioXcel Therapeutics, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $5.62.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.80 million. During the same quarter in the prior year, the firm earned ($1.83) earnings per share. As a group, research analysts predict that BioXcel Therapeutics, Inc. will post -1.84 earnings per share for the current year.

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.