BioXcel Therapeutics (NASDAQ:BTAI) Shares Down 1.2% – Here’s Why

BioXcel Therapeutics, Inc. (NASDAQ:BTAI)’s share price traded down 1.2% during mid-day trading on Thursday . The company traded as low as $0.7462 and last traded at $0.7928. Approximately 759,177 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,420,637 shares. The stock had previously closed at $0.8024.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Friday, July 17th. Wall Street Zen downgraded shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright cut their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BioXcel Therapeutics currently has an average rating of “Hold” and an average price target of $11.00.

BioXcel Therapeutics Trading Down 1.2%

The stock has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.32. The firm has a market capitalization of $24.48 million, a PE ratio of -0.14 and a beta of 0.27.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.38 million. As a group, equities analysts anticipate that BioXcel Therapeutics, Inc. will post -2.07 earnings per share for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics during the 2nd quarter valued at $27,000. HRT Financial LP bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at about $28,000. XTX Topco Ltd bought a new position in shares of BioXcel Therapeutics during the second quarter valued at about $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of BioXcel Therapeutics during the first quarter worth about $50,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the period. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.