BioXcel Therapeutics (NASDAQ:BTAI) Given “Underperform” Rating at Bank of America

Bank of America reaffirmed their underperform rating on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research report released on Tuesday,Benzinga reports. They currently have a $0.25 target price on the stock, down from their previous target price of $7.00.

A number of other brokerages also recently commented on BTAI. HC Wainwright decreased 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. Canaccord Genuity Group reduced their price objective on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Monday.

BioXcel Therapeutics Stock Performance

BioXcel Therapeutics stock opened at $0.47 on Tuesday. BioXcel Therapeutics has a 1 year low of $0.30 and a 1 year high of $4.17. The firm’s 50-day moving average is $0.49 and its 200-day moving average is $0.69. The company has a market cap of $23.39 million, a P/E ratio of -0.22 and a beta of -0.01.

Institutional Investors Weigh In On BioXcel Therapeutics

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in BioXcel Therapeutics in the 2nd quarter worth approximately $39,000. Armistice Capital LLC boosted its position in 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. Finally, XTX Topco Ltd grew its stake 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 worth $60,000 after purchasing an additional 15,291 shares in the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.