Short Interest in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Decreases By 84.3%

BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Get Free Report) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 250,700 shares, a decrease of 84.3% from the January 15th total of 1,600,000 shares. Approximately 9.7% of the shares of the company are short sold. Based on an average trading volume of 120,500 shares, the short-interest ratio is presently 2.1 days.

Institutional Trading of BioXcel Therapeutics

Several institutional investors have recently modified their holdings of BTAI. Northern Trust Corp boosted its stake in BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company's stock worth $28,000 after buying an additional 33,161 shares in the last quarter. Wells Fargo & Company MN increased its stake in BioXcel Therapeutics by 7.5% in the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company's stock valued at $74,000 after acquiring an additional 13,952 shares during the period. Finally, Geode Capital Management LLC raised its position in BioXcel Therapeutics by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company's stock worth $117,000 after purchasing an additional 13,922 shares in the last quarter. Institutional investors and hedge funds own 30.68% of the company's stock.

BioXcel Therapeutics Stock Down 2.9 %

BTAI stock traded down $0.07 during trading on Friday, reaching $2.31. 130,934 shares of the stock were exchanged, compared to its average volume of 3,338,427. BioXcel Therapeutics has a twelve month low of $2.16 and a twelve month high of $61.12. The stock has a 50 day simple moving average of $5.51 and a 200-day simple moving average of $8.37.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. HC Wainwright dropped their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $112.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Bank of America reiterated an "underperform" rating and set a $4.00 price target (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th.

BioXcel Therapeutics Company Profile

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.