BioXcel Therapeutics (NASDAQ:BTAI) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

BioXcel Therapeutics (NASDAQ:BTAI) posted its quarterly earnings results on Friday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01), FiscalAI reports. The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million.

BioXcel Therapeutics Trading Down 5.8%

BioXcel Therapeutics stock opened at $1.14 on Friday. The firm’s 50 day simple moving average is $1.28 and its 200 day simple moving average is $1.62. The firm has a market capitalization of $30.87 million, a PE ratio of -0.17 and a beta of 0.31. BioXcel Therapeutics has a 1-year low of $1.01 and a 1-year high of $8.08.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew 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 buying an additional 807,139 shares in the last quarter. Man Group plc purchased a new position in BioXcel Therapeutics in the 4th quarter worth approximately $91,000. State Street Corp grew 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 buying an additional 10,500 shares in the last quarter. Jane Street Group LLC purchased a new position in BioXcel Therapeutics in the 4th quarter worth approximately $204,000. Finally, HRT Financial LP purchased a new position in BioXcel Therapeutics in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.