BioXcel Therapeutics (NASDAQ:BTAI) Shares Down 1% – Time to Sell?

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) shares traded down 1% during mid-day trading on Monday . The company traded as low as $1.88 and last traded at $1.89. 263,511 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,233,892 shares. The stock had previously closed at $1.91.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BioXcel Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $42.60.

BioXcel Therapeutics Trading Down 1.0%

The stock’s 50 day moving average is $1.68 and its 200 day moving average is $2.59. The stock has a market capitalization of $11.45 million, a price-to-earnings ratio of -0.14 and a beta of 0.04.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Monday, May 12th. The company reported ($1.50) EPS for the quarter, beating the consensus estimate of ($2.72) by $1.22. The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.35 million. On average, sell-side analysts anticipate that BioXcel Therapeutics, Inc. will post -24.39 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in BioXcel Therapeutics by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after acquiring an additional 13,922 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of BioXcel Therapeutics by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after buying an additional 13,952 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in BioXcel Therapeutics during the first quarter worth approximately $50,000. Northern Trust Corp grew its holdings in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after buying an additional 33,161 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of BioXcel Therapeutics by 203.9% during the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after buying an additional 48,336 shares during the period. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.