BioXcel Therapeutics (NASDAQ:BTAI) Downgraded by ValuEngine

ValuEngine downgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of BioXcel Therapeutics from a hold rating to a sell rating in a research report on Monday, August 12th. HC Wainwright set a $25.00 target price on shares of BioXcel Therapeutics and gave the stock a buy rating in a research report on Wednesday, June 5th.

Shares of NASDAQ:BTAI opened at $9.12 on Tuesday. The company’s fifty day moving average is $10.04 and its 200 day moving average is $9.99. BioXcel Therapeutics has a 52 week low of $2.41 and a 52 week high of $12.00. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 0.04.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.02). As a group, sell-side analysts forecast that BioXcel Therapeutics will post -2.22 EPS for the current fiscal year.

In other news, CEO Vimal Mehta acquired 2,983 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $8.64 per share, for a total transaction of $25,773.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank Yocca acquired 6,547 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $8.67 per share, for a total transaction of $56,762.49. The disclosure for this purchase can be found here. Insiders acquired 10,530 shares of company stock worth $91,286 in the last 90 days. Corporate insiders own 64.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BTAI. BlackRock Inc. increased its position in shares of BioXcel Therapeutics by 1,988.0% in the second quarter. BlackRock Inc. now owns 299,145 shares of the company’s stock valued at $3,278,000 after acquiring an additional 284,818 shares during the period. Vanguard Group Inc. increased its position in shares of BioXcel Therapeutics by 45.4% in the second quarter. Vanguard Group Inc. now owns 259,301 shares of the company’s stock valued at $2,842,000 after acquiring an additional 80,959 shares during the period. Northern Trust Corp increased its position in shares of BioXcel Therapeutics by 247.7% in the second quarter. Northern Trust Corp now owns 43,822 shares of the company’s stock valued at $481,000 after acquiring an additional 31,218 shares during the period. Creative Planning purchased a new position in shares of BioXcel Therapeutics in the first quarter valued at about $302,000. Finally, Renaissance Technologies LLC increased its position in shares of BioXcel Therapeutics by 59.8% in the second quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock valued at $785,000 after acquiring an additional 26,800 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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