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 in 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. Approximately 6.5% of the shares of the stock 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. Approximately 6.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently commented on BTAI. Zacks Research cut BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.50.

Hedge Funds Weigh In On BioXcel Therapeutics

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

BioXcel Therapeutics Stock Down 0.6%

Shares of BTAI opened at $1.57 on Wednesday. The stock has a market cap of $34.34 million, a PE ratio of -0.16 and a beta of 0.22. BioXcel Therapeutics has a 12-month low of $1.17 and a 12-month high of $8.08. The business has a 50-day simple moving average of $1.86 and a two-hundred day simple moving average of $2.53.

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

About BioXcel Therapeutics

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.