Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Grows By 84.8%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 6,124,886 shares, an increase of 84.8% from the August 15th total of 3,314,382 shares. Based on an average daily volume of 7,193,434 shares, the short-interest ratio is presently 0.9 days. Approximately 20.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Hedge Funds Weigh In On BioXcel Therapeutics

A hedge fund recently bought a new position in BioXcel Therapeutics stock. Headlands Technologies LLC bought a new stake in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,556 shares of the company’s stock, valued at approximately $36,000. Headlands Technologies LLC owned 0.08% of BioXcel Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Trading Up 0.3%

NASDAQ:BTAI opened at $0.07 on Wednesday. The firm has a market cap of $2.32 million, a price-to-earnings ratio of -0.02 and a beta of 0.19. The company has a 50-day moving average of $0.67 and a 200-day moving average of $1.06. BioXcel Therapeutics has a twelve month low of $0.07 and a twelve month high of $4.29.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Thursday, August 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). The firm had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.48 million. On average, research analysts forecast that BioXcel Therapeutics will post -2.7 earnings per share for the current year.

About BioXcel Therapeutics

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.