BioXcel Therapeutics (NASDAQ:BTAI) CEO Sells $21,166.71 in Stock

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) CEO Vimal Mehta sold 19,419 shares of BioXcel Therapeutics stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.09, for a total transaction of $21,166.71. Following the sale, the chief executive officer owned 69,598 shares in the company, valued at $75,861.82. This represents a 21.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BioXcel Therapeutics Trading Down 0.9%

NASDAQ:BTAI traded down $0.01 during midday trading on Friday, hitting $1.13. 348,912 shares of the company were exchanged, compared to its average volume of 1,191,390. The company has a market capitalization of $34.89 million, a PE ratio of -0.20 and a beta of 0.31. BioXcel Therapeutics, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $8.08. The company has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.59.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.38 million. As a group, equities research analysts expect that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on BTAI shares. HC Wainwright cut 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. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. Wall Street Zen lowered shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On BioXcel Therapeutics

Large investors have recently modified their holdings of the stock. Diversify Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the second quarter worth approximately $27,000. HRT Financial LP purchased a new stake in shares of BioXcel Therapeutics during the fourth quarter worth approximately $28,000. XTX Topco Ltd purchased a new position in BioXcel Therapeutics during the second quarter worth about $42,000. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics during the first quarter worth about $50,000. Finally, Geode Capital Management LLC raised its holdings in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares in the last quarter. 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.