BioXcel Therapeutics (NASDAQ:BTAI) Shares Down 5.5% – Here’s What Happened

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) shares were down 5.5% during mid-day trading on Tuesday . The company traded as low as $1.04 and last traded at $1.04. 3,997,345 shares were traded during mid-day trading, an increase of 465% from the average session volume of 707,556 shares. The stock had previously closed at $1.10.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. Rodman & Renshaw assumed coverage on shares of BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective on the stock. Wall Street Zen downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.00.

BioXcel Therapeutics Stock Performance

The company has a market capitalization of $32.12 million, a PE ratio of -0.18 and a beta of 0.27. The stock has a fifty day moving average of $1.20 and a 200 day moving average of $1.42.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.38 million. As a group, equities analysts predict that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds have recently bought and sold shares of BTAI. Diversify Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $27,000. HRT Financial LP purchased a new stake in shares of BioXcel Therapeutics in the fourth quarter worth approximately $28,000. XTX Topco Ltd bought a new stake in shares of BioXcel Therapeutics during the second quarter worth $42,000. Goldman Sachs Group Inc. bought a new stake in BioXcel Therapeutics during the 1st quarter valued at about $50,000. Finally, Geode Capital Management LLC raised its stake in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after acquiring an additional 6,120 shares in the last quarter. 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.