BioXcel Therapeutics (NASDAQ:BTAI) Trading 2.7% Higher – Here’s What Happened

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) traded up 2.7% during trading on Friday . The company traded as high as $1.16 and last traded at $1.14. 488,737 shares traded hands during trading, a decline of 27% from the average session volume of 668,358 shares. The stock had previously closed at $1.11.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target on the stock. HC Wainwright dropped their price target on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has a consensus rating of “Hold” and an average target price of $11.00.

BioXcel Therapeutics Trading Up 2.7%

The business has a fifty day moving average of $1.15 and a 200-day moving average of $1.52. The firm has a market cap of $35.20 million, a PE ratio of -0.20 and a beta of 0.30.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.38 million. On average, equities analysts forecast that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current year.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in BioXcel Therapeutics by 78.5% in the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after acquiring an additional 807,139 shares during the last quarter. Man Group plc bought a new position in BioXcel Therapeutics in the 4th quarter worth about $91,000. State Street Corp increased its stake in BioXcel Therapeutics by 19.9% in the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after acquiring an additional 10,500 shares during the last quarter. Jane Street Group LLC bought a new position in BioXcel Therapeutics in the 4th quarter worth about $204,000. Finally, HRT Financial LP bought a new position in BioXcel Therapeutics in the 4th quarter worth about $28,000. Hedge funds and other 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.