BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings data on Friday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05), MarketWatch Earnings reports.
NASDAQ BTAI traded down $0.15 on Friday, hitting $5.90. 82,078 shares of the stock traded hands, compared to its average volume of 27,947. BioXcel Therapeutics has a twelve month low of $5.00 and a twelve month high of $14.79.
BTAI has been the topic of several research reports. Zacks Investment Research upgraded BioXcel Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, August 14th. Canaccord Genuity restated a “buy” rating and set a $21.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 10th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of BioXcel Therapeutics in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in BTAI. Millennium Management LLC bought a new position in shares of BioXcel Therapeutics during the first quarter valued at approximately $316,000. BlackRock Inc. bought a new position in shares of BioXcel Therapeutics during the second quarter valued at approximately $137,000. Point72 Asset Management L.P. grew its holdings in shares of BioXcel Therapeutics by 10.7% during the second quarter. Point72 Asset Management L.P. now owns 65,809 shares of the company’s stock valued at $605,000 after purchasing an additional 6,358 shares during the last quarter. Creative Planning bought a new position in shares of BioXcel Therapeutics during the third quarter valued at approximately $102,000. Finally, Artemis Investment Management LLP grew its holdings in shares of BioXcel Therapeutics by 1.3% during the third quarter. Artemis Investment Management LLP now owns 1,254,853 shares of the company’s stock valued at $9,700,000 after purchasing an additional 16,358 shares during the last quarter. Hedge funds and other institutional investors own 23.90% of the company’s stock.
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About BioXcel Therapeutics
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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