Raymond James & Associates Boosts Stock Position in BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

Raymond James & Associates grew its stake in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 32.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,648 shares of the company’s stock after buying an additional 4,596 shares during the period. Raymond James & Associates owned 0.06% of BioXcel Therapeutics worth $124,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in BioXcel Therapeutics by 205.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock worth $29,000 after purchasing an additional 1,028 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in BioXcel Therapeutics by 411.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock worth $37,000 after purchasing an additional 1,400 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in BioXcel Therapeutics in the 2nd quarter worth approximately $50,000. Quantbot Technologies LP purchased a new position in BioXcel Therapeutics in the 1st quarter worth approximately $79,000. Finally, Barclays PLC lifted its holdings in BioXcel Therapeutics by 533.3% in the 4th quarter. Barclays PLC now owns 5,136 shares of the company’s stock worth $111,000 after purchasing an additional 4,325 shares in the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Stock Up 6.6 %

Shares of NASDAQ:BTAI opened at $5.51 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 3.92 and a debt-to-equity ratio of 16.52. BioXcel Therapeutics, Inc. has a 12 month low of $2.23 and a 12 month high of $34.13. The company has a 50-day moving average price of $3.32 and a 200 day moving average price of $10.50. The company has a market cap of $161.28 million, a price-to-earnings ratio of -0.77 and a beta of 0.86.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Monday, August 14th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.11). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.42 million. BioXcel Therapeutics had a negative return on equity of 309.06% and a negative net margin of 19,549.52%. The firm’s revenue for the quarter was up 45600.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.35) EPS. As a group, equities research analysts predict that BioXcel Therapeutics, Inc. will post -5.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of BioXcel Therapeutics in a report on Thursday, October 26th. Guggenheim downgraded BioXcel Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, July 17th. Truist Financial cut shares of BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Mizuho reiterated a “neutral” rating on shares of BioXcel Therapeutics in a research report on Wednesday, August 23rd. Finally, Canaccord Genuity Group decreased their target price on shares of BioXcel Therapeutics from $75.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.88.

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.