HC Wainwright Cuts BioXcel Therapeutics (NASDAQ:BTAI) Price Target to $6.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective trimmed by HC Wainwright from $10.00 to $6.00 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on BTAI. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research 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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.50.

BioXcel Therapeutics Trading Down 8.1%

BTAI opened at $1.48 on Thursday. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $8.08. The stock has a market capitalization of $32.37 million, a PE ratio of -0.15 and a beta of 0.18. The firm has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $2.26.

Institutional Trading of BioXcel Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BTAI. Oaktree Capital Management LP acquired a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $437,000. Geode Capital Management LLC grew its stake in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the period. State Street Corp increased its holdings in BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after purchasing an additional 10,500 shares during the last quarter. Jane Street Group LLC acquired a new position in BioXcel Therapeutics in the fourth quarter valued at about $204,000. Finally, Millennium Management LLC acquired a new position in BioXcel Therapeutics in the third quarter valued at about $2,632,000. Institutional investors own 30.68% of the company’s stock.

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.