Short Interest in BioXcel Therapeutics Inc (NASDAQ:BTAI) Rises By 61.4%

BioXcel Therapeutics Inc (NASDAQ:BTAI) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 410,800 shares, a growth of 61.4% from the September 30th total of 254,600 shares. Based on an average trading volume of 64,100 shares, the days-to-cover ratio is presently 6.4 days. Currently, 6.1% of the shares of the company are sold short.

Several research analysts recently commented on the company. ValuEngine raised BioXcel Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright set a $25.00 price objective on BioXcel Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Zacks Investment Research upgraded BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. SunTrust Banks initiated coverage on BioXcel Therapeutics in a research note on Tuesday. They set a “buy” rating and a $24.00 price objective for the company. Finally, BMO Capital Markets set a $21.00 price objective on BioXcel Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.60.

In other news, CEO Vimal Mehta bought 2,983 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $8.64 per share, with a total value of $25,773.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Mueller bought 8,446 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $8.74 per share, with a total value of $73,818.04. The disclosure for this purchase can be found here. 64.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Rational Advisors LLC acquired a new stake in shares of BioXcel Therapeutics in the third quarter valued at $48,000. California Public Employees Retirement System increased its stake in shares of BioXcel Therapeutics by 5.8% in the third quarter. California Public Employees Retirement System now owns 315,700 shares of the company’s stock valued at $2,223,000 after buying an additional 17,300 shares in the last quarter. Strs Ohio increased its stake in shares of BioXcel Therapeutics by 431.3% in the third quarter. Strs Ohio now owns 8,500 shares of the company’s stock valued at $59,000 after buying an additional 6,900 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of BioXcel Therapeutics by 21.6% in the third quarter. Artemis Investment Management LLP now owns 1,190,184 shares of the company’s stock valued at $8,365,000 after buying an additional 211,169 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of BioXcel Therapeutics by 45.4% in the second quarter. Vanguard Group Inc. now owns 259,301 shares of the company’s stock valued at $2,842,000 after buying an additional 80,959 shares in the last quarter. Institutional investors own 20.46% of the company’s stock.

BioXcel Therapeutics stock traded up $0.32 during mid-day trading on Wednesday, hitting $4.77. 2,662 shares of the company were exchanged, compared to its average volume of 68,002. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $5.75 and a 200 day moving average of $9.23. BioXcel Therapeutics has a 1-year low of $2.41 and a 1-year high of $12.00. The company has a market capitalization of $64.19 million, a PE ratio of -3.58 and a beta of 2.80.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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