BioXcel Therapeutics (NASDAQ:BTAI) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a hold rating to a sell rating in a research report released on Sunday morning.

BTAI has been the subject of a number of other research reports. HC Wainwright reduced their price objective on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

BioXcel Therapeutics Stock Performance

NASDAQ BTAI opened at $1.09 on Friday. The stock has a 50-day simple moving average of $1.52 and a two-hundred day simple moving average of $1.87. The firm has a market capitalization of $29.52 million, a P/E ratio of -0.16 and a beta of 0.30. BioXcel Therapeutics has a fifty-two week low of $1.06 and a fifty-two week high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58). The company had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.15 million. As a group, analysts forecast that BioXcel Therapeutics will post -24.39 earnings per share for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors have recently modified their holdings of the business. Diversify Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $27,000. HRT Financial LP acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $28,000. XTX Topco Ltd acquired a new stake in BioXcel Therapeutics in the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. acquired a new stake in BioXcel Therapeutics in the 1st quarter worth about $50,000. Finally, Geode Capital Management LLC boosted its holdings in 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 buying an additional 6,120 shares during the last quarter. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.