Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Increases By 32.6%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 1,365,977 shares, an increase of 32.6% from the December 31st total of 1,030,339 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily volume of 715,027 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily volume of 715,027 shares, the days-to-cover ratio is presently 1.9 days. Currently, 6.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BTAI. Millennium Management LLC bought a new stake in BioXcel Therapeutics during the 3rd quarter worth approximately $2,632,000. Oaktree Capital Management LP bought a new stake in shares of BioXcel Therapeutics during the second quarter worth $437,000. Oaktree Fund Advisors LLC bought a new stake in shares of BioXcel Therapeutics during the second quarter worth $78,000. Foundations Investment Advisors LLC acquired a new stake in shares of BioXcel Therapeutics in the third quarter valued at $76,000. Finally, SLT Holdings LLC bought a new position in shares of BioXcel Therapeutics in the third quarter valued at about $76,000. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Trading Down 1.6%

BTAI stock traded down $0.03 during trading on Tuesday, hitting $1.56. The company had a trading volume of 68,592 shares, compared to its average volume of 609,307. The company has a fifty day moving average price of $1.86 and a two-hundred day moving average price of $2.53. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The company has a market cap of $34.01 million, a P/E ratio of -0.16 and a beta of 0.22.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Wednesday, November 12th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.64). The firm had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.20 million. On average, analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current year.

Analysts Set New Price Targets

BTAI has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. Zacks Research downgraded BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, BioXcel Therapeutics has a consensus rating of “Hold” and a consensus price target of $37.50.

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.