BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 250,700 shares, a drop of 84.3% from the January 15th total of 1,600,000 shares. Approximately 9.7% of the shares of the company are sold short. Based on an average daily volume of 120,500 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Several research analysts have recently commented on BTAI shares. Canaccord Genuity Group lowered their target price on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Bank of America reissued an “underperform” rating and issued a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Finally, HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI traded down $0.39 during mid-day trading on Thursday, reaching $2.42. The stock had a trading volume of 313,996 shares, compared to its average volume of 215,628. The stock has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $8.59. The stock has a market capitalization of $119.91 million, a PE ratio of -1.13 and a beta of -0.01. BioXcel Therapeutics has a 12 month low of $2.16 and a 12 month high of $61.12.

Institutional Trading of BioXcel Therapeutics

A hedge fund recently raised its stake in BioXcel Therapeutics stock. Wells Fargo & Company MN raised its stake in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,010 shares of the company’s stock after buying an additional 13,952 shares during the period. Wells Fargo & Company MN owned 0.40% of BioXcel Therapeutics worth $74,000 at the end of the most recent quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

About BioXcel Therapeutics

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.