BioXcel Therapeutics (NASDAQ:BTAI) Releases Earnings Results, Misses Estimates By $0.05 EPS

BioXcel Therapeutics (NASDAQ:BTAI) posted its quarterly earnings data on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05), FiscalAI reports. The firm had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.48 million.

BioXcel Therapeutics Stock Up 6.6%

Shares of NASDAQ BTAI traded up $0.07 during midday trading on Thursday, reaching $1.13. The company had a trading volume of 1,073,859 shares, compared to its average volume of 1,109,209. The stock has a market cap of $34.89 million, a PE ratio of -0.20 and a beta of 0.31. BioXcel Therapeutics has a one year low of $0.74 and a one year high of $6.85. The firm’s fifty day moving average price is $1.04 and its 200-day moving average price is $1.25.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BTAI. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.00.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors have recently made changes to their positions in BTAI. Millennium Management LLC grew its holdings in shares of BioXcel Therapeutics by 78.5% in the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after purchasing an additional 807,139 shares during the last quarter. State Street Corp raised 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 buying an additional 10,500 shares during the last quarter. Jane Street Group LLC purchased a new stake in BioXcel Therapeutics during the 4th quarter valued at $204,000. Geode Capital Management LLC boosted its position 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 buying an additional 80,928 shares during the period. Finally, Man Group plc bought a new stake in BioXcel Therapeutics in the 4th quarter worth $91,000. 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.