BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Up 19.2% in April

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totaling 3,946,749 shares, an increase of 19.2% from the March 31st total of 3,312,077 shares. Based on an average trading volume of 1,280,233 shares, the days-to-cover ratio is presently 3.1 days. Approximately 15.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BTAI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price on the stock. Wall Street Zen upgraded BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. HC Wainwright dropped their target price 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. Finally, Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Trading of BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Man Group plc purchased a new position in BioXcel Therapeutics during the 4th quarter valued at about $91,000. State Street Corp boosted its holdings in BioXcel Therapeutics by 19.9% during the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after acquiring an additional 10,500 shares during the period. Jane Street Group LLC purchased a new position in BioXcel Therapeutics during the 4th quarter valued at about $204,000. Geode Capital Management LLC boosted its holdings in BioXcel Therapeutics by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after acquiring an additional 80,928 shares during the period. Finally, Millennium Management LLC purchased a new position in BioXcel Therapeutics during the 3rd quarter valued at about $2,632,000. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Stock Performance

Shares of BTAI traded down $0.03 during mid-day trading on Friday, hitting $1.20. 1,193,791 shares of the company were exchanged, compared to its average volume of 1,308,480. The stock has a market cap of $32.50 million, a price-to-earnings ratio of -0.18 and a beta of 0.30. BioXcel Therapeutics has a 1-year low of $1.01 and a 1-year high of $8.08. The company has a 50 day moving average of $1.36 and a 200-day moving average of $1.70.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Friday, March 27th. The company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). Research analysts anticipate that BioXcel Therapeutics will post -2.35 earnings per share for the current fiscal year.

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.