BioXcel Therapeutics (NASDAQ:BTAI) Upgraded at Zacks Research

Zacks Research upgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

BTAI has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BioXcel Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

BioXcel Therapeutics Stock Up 1.3%

NASDAQ BTAI opened at $1.57 on Monday. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $8.08. The firm has a market capitalization of $34.33 million, a price-to-earnings ratio of -0.16 and a beta of 0.18. The company has a fifty day moving average of $1.70 and a two-hundred day moving average of $2.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of BioXcel Therapeutics by 27.7% in the 2nd 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 in the last quarter. Jones Financial Companies Lllp boosted its position in BioXcel Therapeutics by 38.5% during the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after purchasing an additional 10,000 shares in the last quarter. State Street Corp boosted its position in BioXcel Therapeutics by 19.9% during 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 in the last quarter. Diversify Wealth Management LLC bought a new stake in BioXcel Therapeutics during the second quarter valued at about $27,000. Finally, HRT Financial LP purchased a new position in BioXcel Therapeutics in the fourth quarter valued at about $28,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

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.