BioXcel Therapeutics (NASDAQ:BTAI) Trading 4.7% Higher

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) was up 4.7% during mid-day trading on Tuesday . The company traded as high as $30.00 and last traded at $29.92. Approximately 2,507 shares changed hands during trading, a decline of 99% from the average daily volume of 437,183 shares. The stock had previously closed at $28.58.

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

The firm’s 50-day moving average is $27.01 and its two-hundred day moving average is $32.61. The company has a market cap of $832.36 million, a P/E ratio of -6.92 and a beta of 1.08.

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

In related news, CEO Vimal Mehta sold 473,250 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $30.83, for a total value of $14,590,297.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BTAI. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BioXcel Therapeutics by 176.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,083 shares of the company’s stock worth $219,000 after acquiring an additional 3,247 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of BioXcel Therapeutics by 19.0% in the 1st quarter. Alliancebernstein L.P. now owns 815,881 shares of the company’s stock worth $35,213,000 after acquiring an additional 130,470 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of BioXcel Therapeutics in the 1st quarter worth $257,000. IndexIQ Advisors LLC acquired a new stake in shares of BioXcel Therapeutics in the 1st quarter worth $422,000. Finally, Swiss National Bank increased its stake in shares of BioXcel Therapeutics by 10.2% in the 1st quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $1,442,000 after acquiring an additional 3,100 shares during the last quarter. 46.52% of the stock is owned by hedge funds and other institutional investors.

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.

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