Murchinson Ltd. Purchases Shares of 136,076 BioXcel Therapeutics, Inc. $BTAI

Key Points

• Murchinson Ltd. has acquired a new stake of 136,076 shares in BioXcel Therapeutics, valued at approximately $276,000, representing 2.48% ownership of the company.
• BioXcel Therapeutics reported a quarterly loss of ($2.45) EPS, missing estimates, and had $0.12 million in revenue compared to the expected $0.21 million.
• Analysts have varied opinions on the stock, with ratings ranging from "strong-buy" to "sell," and an average price target of $39.75.

Murchinson Ltd. bought a new stake in BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 136,076 shares of the company's stock, valued at approximately $276,000. Murchinson Ltd. owned about 2.48% of BioXcel Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company's stock valued at $74,000 after acquiring an additional 13,952 shares during the period. Northern Trust Corp raised its holdings in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company's stock valued at $28,000 after acquiring an additional 33,161 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company's stock valued at $27,000 after acquiring an additional 48,336 shares during the period. 30.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BTAI. Zacks Research cut shares of BioXcel Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of BioXcel Therapeutics in a report on Thursday, August 28th. Finally, Wall Street Zen cut shares of BioXcel Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.75.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI traded down $0.05 during mid-day trading on Thursday, reaching $3.47. The stock had a trading volume of 1,919,118 shares, compared to its average volume of 5,173,254. The stock has a 50-day simple moving average of $3.28 and a two-hundred day simple moving average of $2.35. The stock has a market capitalization of $55.55 million, a PE ratio of -0.27 and a beta of 0.20. BioXcel Therapeutics, Inc. has a 12 month low of $1.17 and a 12 month high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($2.45) EPS for the quarter, missing analysts' consensus estimates of ($2.30) by ($0.15). The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.21 million. Equities analysts expect that BioXcel Therapeutics, Inc. will post -24.39 EPS for the current year.

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.