BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Growth in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 898,700 shares, an increase of 44.0% from the November 15th total of 624,100 shares. Based on an average daily trading volume, of 622,000 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC raised its stake in shares of BioXcel Therapeutics by 705.2% in the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after acquiring an additional 2,616,027 shares during the period. Vanguard Group Inc. increased its holdings in BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after purchasing an additional 9,912 shares in the last quarter. XTX Topco Ltd raised its position in BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BioXcel Therapeutics during the second quarter worth about $39,000. 30.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BTAI has been the subject of a number of research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th. HC Wainwright cut their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock opened at $0.41 on Friday. BioXcel Therapeutics has a 12 month low of $0.36 and a 12 month high of $4.17. The company has a market cap of $17.62 million, a price-to-earnings ratio of -0.19 and a beta of 0.11. The stock’s 50-day moving average is $0.55 and its 200-day moving average is $0.82.

BioXcel Therapeutics Company Profile

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.