BioXcel Therapeutics (NASDAQ:BTAI) Issues Quarterly Earnings Results

BioXcel Therapeutics (NASDAQ:BTAI) posted its quarterly earnings results on Friday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01), FiscalAI reports. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.38 million.

BioXcel Therapeutics Price Performance

BTAI stock traded down $0.07 during trading on Friday, reaching $1.14. The company had a trading volume of 574,492 shares, compared to its average volume of 1,229,798. BioXcel Therapeutics has a 52 week low of $1.01 and a 52 week high of $8.08. The company has a market cap of $30.87 million, a P/E ratio of -0.17 and a beta of 0.31. The business has a 50 day moving average of $1.29 and a 200 day moving average of $1.63.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Diversify Wealth Management LLC bought a new position in shares of BioXcel Therapeutics in the 2nd quarter worth approximately $27,000. HRT Financial LP purchased a new stake in shares of BioXcel Therapeutics in the 4th quarter worth about $28,000. XTX Topco Ltd purchased a new stake in shares of BioXcel Therapeutics in the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of BioXcel Therapeutics in the 1st quarter worth about $50,000. Finally, Geode Capital Management LLC grew its position in shares of BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares during the period. Institutional investors own 30.68% of the company’s stock.

Analyst Upgrades and Downgrades

BTAI has been the topic of a number of analyst reports. Zacks Research upgraded shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen upgraded shares of BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research note on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

BioXcel Therapeutics Company Profile

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.