BioXcel Therapeutics (NASDAQ:BTAI) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

BioXcel Therapeutics (NASDAQ:BTAI) issued its quarterly earnings data on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05), FiscalAI reports. The company had revenue of $0.18 million during the quarter, compared to analyst estimates of $0.48 million.

BioXcel Therapeutics Trading Up 6.6%

BTAI stock traded up $0.07 during mid-day trading on Thursday, reaching $1.13. 1,073,859 shares of the stock traded hands, compared to its average volume of 1,109,209. BioXcel Therapeutics has a 52-week low of $0.74 and a 52-week high of $6.85. The stock’s fifty day moving average is $1.04 and its 200-day moving average is $1.25. The company has a market cap of $34.89 million, a P/E ratio of -0.20 and a beta of 0.31.

Analyst Ratings Changes

A number of brokerages have issued reports on BTAI. Wall Street Zen lowered BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, BioXcel Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of BioXcel Therapeutics by 78.5% in the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after buying an additional 807,139 shares during the period. State Street Corp increased its stake in BioXcel Therapeutics by 19.9% in the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after buying an additional 10,500 shares during the period. Jane Street Group LLC acquired a new position in BioXcel Therapeutics in the 4th quarter valued at approximately $204,000. Geode Capital Management LLC lifted its position in BioXcel Therapeutics by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after buying an additional 80,928 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at $91,000. 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.