BioXcel Therapeutics (NASDAQ:BTAI) Shares Gap Down to $31.72

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) gapped down prior to trading on Thursday . The stock had previously closed at $31.72, but opened at $30.64. BioXcel Therapeutics shares last traded at $28.84, with a volume of 5,285 shares changing hands.

Several equities research analysts recently issued reports on BTAI shares. HC Wainwright reaffirmed a “buy” rating and issued a $140.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, September 17th. Truist Securities cut their target price on shares of BioXcel Therapeutics from $128.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, June 23rd. Finally, Berenberg Bank reissued a “buy” rating and set a $70.00 target price on shares of BioXcel Therapeutics in a research report on Monday, August 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, BioXcel Therapeutics presently has an average rating of “Buy” and an average price target of $102.29.

The company has a market cap of $758.27 million, a P/E ratio of -6.98 and a beta of 1.06. The firm’s fifty day moving average price is $28.63 and its 200-day moving average price is $31.02.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Monday, August 9th. The company reported ($1.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.03) by ($0.08). As a group, analysts forecast that BioXcel Therapeutics, Inc. will post -4.49 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank grew its stake in BioXcel Therapeutics by 10.2% during the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $1,442,000 after buying an additional 3,100 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in BioXcel Therapeutics by 41.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,070 shares of the company’s stock worth $348,000 after buying an additional 2,370 shares during the last quarter. BlackRock Inc. grew its stake in BioXcel Therapeutics by 17.1% during the first quarter. BlackRock Inc. now owns 1,054,104 shares of the company’s stock worth $45,495,000 after buying an additional 154,298 shares during the last quarter. Principal Financial Group Inc. grew its stake in BioXcel Therapeutics by 7.6% during the first quarter. Principal Financial Group Inc. now owns 4,966 shares of the company’s stock worth $214,000 after buying an additional 349 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in BioXcel Therapeutics by 17.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 5,591 shares of the company’s stock worth $241,000 after buying an additional 820 shares during the last quarter. 46.52% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile (NASDAQ:BTAI)

BioXcel Therapeutics, Inc is a clinical stage biopharmaceutical company, which focuses on drug development. The firm’s two clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer.

Further Reading: What is a Market Correction?

Receive News & Ratings for BioXcel Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioXcel Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.