BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Update

Key Points

• BioXcel Therapeutics experienced a dramatic increase in short interest, rising by 472.5% in August, with a total of 1,520,000 shares sold short.
• Wall Street analysts have mixed opinions on the stock, with ratings varying from Strong Buy to Sell, and an average consensus target price of $39.75.
• The company reported earnings of ($2.45) per share for the last quarter, falling short of the consensus estimate, with revenue of only $0.12 million compared to expectations of $0.21 million.

BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 1,520,000 shares, anincreaseof472.5% from the July 31st total of 265,500 shares. Based on an average daily volume of 8,230,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately11.5% of the shares of the stock are short sold. Approximately11.5% of the shares of the stock are short sold. Based on an average daily volume of 8,230,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTAI. Diversify Wealth Management LLC bought a new position in BioXcel Therapeutics during the second quarter worth about $27,000. Squarepoint Ops LLC lifted its holdings in shares of BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company's stock valued at $27,000 after purchasing an additional 48,336 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of BioXcel Therapeutics by 81.4% in the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company's stock valued at $28,000 after purchasing an additional 33,161 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $42,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of BioXcel Therapeutics in the first quarter valued at about $50,000. 30.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BTAI shares. Wall Street Zen lowered shares of BioXcel Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 27th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of BioXcel Therapeutics in a research report on Thursday, August 28th. Finally, Zacks Research downgraded BioXcel Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.

BioXcel Therapeutics Stock Up 6.2%

NASDAQ BTAI traded up $0.22 on Friday, reaching $3.79. The company had a trading volume of 2,833,523 shares, compared to its average volume of 13,925,130. The stock's 50 day moving average is $3.16 and its 200-day moving average is $2.31. The stock has a market cap of $60.67 million, a price-to-earnings ratio of -0.30 and a beta of 0.20. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($2.45) EPS for the quarter, missing analysts' consensus estimates of ($2.30) by ($0.15). The company had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.21 million. As a group, analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current year.

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.