BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Up 0.5% – What’s Next?

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) shares were up 0.5% during mid-day trading on Monday . The company traded as high as $2.02 and last traded at $2.02. Approximately 696,818 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 520,797 shares. The stock had previously closed at $2.01.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BTAI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

BioXcel Therapeutics Stock Performance

The stock has a market cap of $44.18 million, a PE ratio of -0.21 and a beta of 0.21. The firm has a 50-day moving average price of $1.87 and a 200-day moving average price of $2.55.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($2.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The business had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.20 million. As a group, sell-side analysts anticipate that BioXcel Therapeutics, Inc. will post -24.39 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTAI. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics during the 2nd quarter valued at $27,000. XTX Topco Ltd purchased a new stake in shares of BioXcel Therapeutics during the second quarter valued at $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of BioXcel Therapeutics during the first quarter valued at $50,000. Geode Capital Management LLC increased its holdings in BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares in the last quarter. Finally, SLT Holdings LLC purchased a new position in BioXcel Therapeutics in the 3rd quarter worth about $76,000. 30.68% of the stock is owned by institutional investors.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.