BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Short Interest Up 44.0% in November

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 898,700 shares, an increase of 44.0% from the November 15th total of 624,100 shares. Based on an average trading volume of 622,000 shares, the short-interest ratio is currently 1.4 days.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock opened at $0.41 on Friday. BioXcel Therapeutics has a 1 year low of $0.36 and a 1 year high of $4.17. The company’s fifty day simple moving average is $0.56 and its 200-day simple moving average is $0.84.

Analysts Set New Price Targets

BTAI has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a research note on Friday, August 30th. HC Wainwright lowered their price target on BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, October 21st.

Institutional Trading of BioXcel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC raised its position in shares of BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after buying an additional 2,616,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioXcel Therapeutics during the second quarter worth about $39,000. XTX Topco Ltd increased its stake in BioXcel Therapeutics by 49.0% during the second 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 period. Finally, Vanguard Group Inc. raised its holdings in 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 in the last quarter. 30.68% of the stock is currently 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.