BioXcel Therapeutics (NASDAQ:BTAI) Raised to Hold at Zacks Research

BioXcel Therapeutics (NASDAQ:BTAI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

BioXcel Therapeutics Stock Performance

BTAI opened at $1.55 on Monday. The stock’s 50 day moving average price is $1.70 and its 200-day moving average price is $2.20. BioXcel Therapeutics has a one year low of $1.17 and a one year high of $8.08. The stock has a market cap of $33.90 million, a price-to-earnings ratio of -0.16 and a beta of 0.18.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTAI. Geode Capital Management LLC boosted its stake in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares in the last quarter. Jones Financial Companies Lllp raised its stake in BioXcel Therapeutics by 38.5% in the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock worth $97,000 after buying an additional 10,000 shares in the last quarter. State Street Corp lifted its holdings in BioXcel Therapeutics by 19.9% during the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after buying an additional 10,500 shares during the period. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics during the second quarter worth $27,000. Finally, HRT Financial LP bought a new stake in BioXcel Therapeutics during the 4th quarter valued at $28,000. 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.