BioXcel Therapeutics, Inc. (NASDAQ:BTAI) CEO Vimal Mehta Sells 5,268 Shares

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) CEO Vimal Mehta sold 5,268 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $2.62, for a total value of $13,802.16. Following the transaction, the chief executive officer now directly owns 43,564 shares in the company, valued at $114,137.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $2.63 on Tuesday. The firm has a market capitalization of $80.43 million, a P/E ratio of -0.43 and a beta of 0.40. BioXcel Therapeutics, Inc. has a one year low of $1.91 and a one year high of $29.56. The company’s 50-day simple moving average is $3.02 and its 200 day simple moving average is $3.18.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.22. The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.17 million. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. On average, equities research analysts expect that BioXcel Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Bank of America reduced their price target on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Canaccord Genuity Group lowered their price objective on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of BioXcel Therapeutics in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BioXcel Therapeutics has an average rating of “Hold” and a consensus price target of $16.86.

Institutional Investors Weigh In On BioXcel Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in shares of BioXcel Therapeutics by 205.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock worth $29,000 after purchasing an additional 1,028 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in BioXcel Therapeutics during the 4th quarter valued at about $31,000. Truist Financial Corp purchased a new position in BioXcel Therapeutics in the fourth quarter worth about $32,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of BioXcel Therapeutics by 411.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock worth $37,000 after buying an additional 1,400 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of BioXcel Therapeutics during the second quarter valued at approximately $50,000. 30.68% of the stock is owned by institutional investors.

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.