DAVENPORT & Co LLC decreased its stake in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Free Report) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,705 shares of the company’s stock after selling 20,590 shares during the period. DAVENPORT & Co LLC owned 0.20% of BioXcel Therapeutics worth $398,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in BioXcel Therapeutics during the first quarter worth $264,000. SeaCrest Wealth Management LLC increased its position in BioXcel Therapeutics by 38.9% during the second quarter. SeaCrest Wealth Management LLC now owns 20,700 shares of the company’s stock worth $138,000 after buying an additional 5,793 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new position in BioXcel Therapeutics during the first quarter worth $323,000. Profund Advisors LLC purchased a new position in BioXcel Therapeutics during the first quarter worth $512,000. Finally, Barclays PLC boosted its holdings in shares of BioXcel Therapeutics by 990.8% during the first quarter. Barclays PLC now owns 56,023 shares of the company’s stock worth $1,045,000 after purchasing an additional 50,887 shares during the last quarter. Hedge funds and other institutional investors own 90.86% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on BTAI. Bank of America decreased their price objective on BioXcel Therapeutics from $43.00 to $23.00 in a report on Friday, June 30th. Guggenheim cut BioXcel Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of BioXcel Therapeutics in a report on Friday, September 8th. Mizuho restated a “neutral” rating on shares of BioXcel Therapeutics in a report on Wednesday, August 23rd. Finally, Truist Financial cut BioXcel Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.88.
BioXcel Therapeutics Price Performance
Shares of BioXcel Therapeutics stock opened at $2.81 on Friday. BioXcel Therapeutics, Inc. has a twelve month low of $2.23 and a twelve month high of $34.13. The stock has a market capitalization of $82.25 million, a P/E ratio of -0.40 and a beta of 1.09. The company has a current ratio of 3.98, a quick ratio of 3.92 and a debt-to-equity ratio of 16.52. The business’s fifty day moving average price is $4.28 and its 200 day moving average price is $13.39.
BioXcel Therapeutics (NASDAQ:BTAI – Get Free Report) last issued its earnings results on Monday, August 14th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.11). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.42 million. BioXcel Therapeutics had a negative net margin of 19,549.52% and a negative return on equity of 309.06%. BioXcel Therapeutics’s revenue was up 45600.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.35) EPS. As a group, research analysts anticipate that BioXcel Therapeutics, Inc. will post -5.75 earnings per share for the current year.
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.
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