BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Up 79.8% in November

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 624,100 shares, a growth of 79.8% from the October 31st total of 347,100 shares. Based on an average daily volume of 517,700 shares, the days-to-cover ratio is currently 1.2 days.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ BTAI traded down $0.01 during mid-day trading on Thursday, hitting $0.45. The stock had a trading volume of 739,487 shares, compared to its average volume of 823,022. The firm has a market cap of $19.34 million, a PE ratio of -0.21 and a beta of 0.29. The company has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.96. BioXcel Therapeutics has a twelve month low of $0.42 and a twelve month high of $4.17.

Analysts Set New Price Targets

BTAI has been the subject of several analyst reports. UBS Group decreased their price objective on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a research note on Friday, August 30th. Finally, HC Wainwright dropped their price target on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioXcel Therapeutics during the second quarter worth about $39,000. Rosalind Advisors Inc. acquired a new stake in BioXcel Therapeutics during the 2nd quarter valued at approximately $51,000. XTX Topco Ltd boosted its holdings in shares of BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares during the last quarter. Finally, Armistice Capital LLC increased its stake in shares of BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after acquiring an additional 2,616,027 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.