BioXcel Therapeutics (NASDAQ:BTAI) PT Lowered to $1.00

BioXcel Therapeutics (NASDAQ:BTAI) had its target price reduced by stock analysts at UBS Group from $3.50 to $1.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 36.78% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Thursday, June 27th. HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.60.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI traded down $0.09 during mid-day trading on Friday, reaching $0.73. 1,119,323 shares of the company were exchanged, compared to its average volume of 982,407. BioXcel Therapeutics has a 1 year low of $0.70 and a 1 year high of $7.80. The firm’s 50-day simple moving average is $1.21 and its 200 day simple moving average is $2.21. The firm has a market cap of $27.44 million, a price-to-earnings ratio of -0.14 and a beta of 0.32.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.55. The firm had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same quarter in the prior year, the firm posted ($1.83) EPS. On average, research analysts forecast that BioXcel Therapeutics will post -2.74 earnings per share for the current fiscal year.

Insider Activity at BioXcel Therapeutics

In other BioXcel Therapeutics news, CEO Vimal Mehta sold 126,014 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total transaction of $205,402.82. Following the completion of the transaction, the chief executive officer now owns 7,811,515 shares in the company, valued at approximately $12,732,769.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 128,520 shares of company stock valued at $208,611 over the last 90 days. 35.80% of the stock is owned by corporate insiders.

Institutional Trading of BioXcel Therapeutics

Institutional investors have recently bought and sold shares of the business. Apollon Wealth Management LLC purchased a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $31,000. Truist Financial Corp purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of BioXcel Therapeutics by 239.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after buying an additional 9,754 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $51,000. Finally, Virtu Financial LLC acquired a new stake in BioXcel Therapeutics during the 4th quarter worth $176,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

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.