BioXcel Therapeutics (NASDAQ:BTAI) Stock Price Down 4.4% – Should You Sell?

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $2.15 and last traded at $2.18. Approximately 749,814 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 1,056,028 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

Several analysts have recently issued reports on BTAI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, October 8th. Zacks Research lowered shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 target price 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, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, BioXcel Therapeutics presently has an average rating of “Hold” and a consensus target price of $39.75.

BioXcel Therapeutics Price Performance

The firm has a market capitalization of $34.90 million, a PE ratio of -0.17 and a beta of 0.18. The company’s fifty day simple moving average is $3.14 and its 200 day simple moving average is $2.45.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($2.45) EPS for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.21 million. On average, analysts anticipate that BioXcel Therapeutics, Inc. will post -24.39 earnings per share for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of BioXcel Therapeutics during the first quarter valued at approximately $50,000. Murchinson Ltd. purchased a new stake in BioXcel Therapeutics in the first quarter worth $276,000. Geode Capital Management LLC lifted its stake in BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after acquiring an additional 6,120 shares during the period. XTX Topco Ltd purchased a new stake in BioXcel Therapeutics in the second quarter worth $42,000. Finally, Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the second quarter worth $27,000. Hedge funds and other institutional investors 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.