BioXcel Therapeutics (NASDAQ:BTAI) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of BioXcel Therapeutics (NASDAQ:BTAI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of BioXcel Therapeutics from a hold rating to a sell rating in a report on Monday, August 12th. HC Wainwright set a $25.00 price objective on shares of BioXcel Therapeutics and gave the company a buy rating in a report on Wednesday, June 5th.

Shares of BioXcel Therapeutics stock opened at $9.12 on Tuesday. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.04. BioXcel Therapeutics has a 52-week low of $2.41 and a 52-week high of $12.00. The company has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $9.99.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.02). As a group, analysts anticipate that BioXcel Therapeutics will post -2.22 earnings per share for the current fiscal year.

In related news, CEO Vimal Mehta acquired 2,983 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $8.64 per share, with a total value of $25,773.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank Yocca acquired 6,547 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $8.67 per share, with a total value of $56,762.49. The disclosure for this purchase can be found here. Insiders have bought 10,530 shares of company stock valued at $91,286 over the last three months. 64.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of BioXcel Therapeutics by 45.4% during the 2nd quarter. Vanguard Group Inc. now owns 259,301 shares of the company’s stock worth $2,842,000 after purchasing an additional 80,959 shares during the period. BlackRock Inc. boosted its stake in shares of BioXcel Therapeutics by 1,988.0% during the 2nd quarter. BlackRock Inc. now owns 299,145 shares of the company’s stock worth $3,278,000 after purchasing an additional 284,818 shares during the period. Northern Trust Corp boosted its stake in shares of BioXcel Therapeutics by 247.7% during the 2nd quarter. Northern Trust Corp now owns 43,822 shares of the company’s stock worth $481,000 after purchasing an additional 31,218 shares during the period. Renaissance Technologies LLC boosted its stake in shares of BioXcel Therapeutics by 59.8% during the 2nd quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock worth $785,000 after purchasing an additional 26,800 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of BioXcel Therapeutics during the 2nd quarter worth about $198,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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