Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Decreases By 39.8%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 347,100 shares, a decrease of 39.8% from the October 15th total of 576,400 shares. Based on an average daily trading volume, of 478,700 shares, the short-interest ratio is presently 0.7 days.

BioXcel Therapeutics Trading Down 6.8 %

Shares of BioXcel Therapeutics stock traded down $0.05 on Wednesday, hitting $0.62. 312,520 shares of the company traded hands, compared to its average volume of 829,534. BioXcel Therapeutics has a 52 week low of $0.51 and a 52 week high of $4.89. The business has a 50-day simple moving average of $0.60 and a 200 day simple moving average of $1.09.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds have recently made changes to their positions in BTAI. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BioXcel Therapeutics during the second quarter valued at approximately $39,000. Armistice Capital LLC lifted its holdings in BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after buying an additional 2,616,027 shares during the period. XTX Topco Ltd boosted its position in BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $51,000. Finally, Vanguard Group Inc. raised its position in shares of BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after acquiring an additional 9,912 shares in the last quarter. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. HC Wainwright cut their price objective on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th.

About BioXcel Therapeutics

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.