BioXcel Therapeutics (NASDAQ:BTAI) Stock Rating Lowered by ValuEngine

BioXcel Therapeutics (NASDAQ:BTAI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

Several other research analysts also recently commented on BTAI. Zacks Investment Research downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. HC Wainwright set a $25.00 target price on BioXcel Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, June 5th.

Shares of NASDAQ BTAI opened at $8.76 on Tuesday. BioXcel Therapeutics has a 52 week low of $2.41 and a 52 week high of $12.00. The business has a 50-day simple moving average of $10.09 and a two-hundred day simple moving average of $9.97. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.04. The company has a market cap of $132.60 million, a P/E ratio of -6.64 and a beta of 3.02.

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

In other BioXcel Therapeutics news, CEO Vimal Mehta purchased 2,983 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $8.64 per share, for a total transaction of $25,773.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Yocca purchased 6,547 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $8.67 per share, with a total value of $56,762.49. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 10,530 shares of company stock valued at $91,286. Corporate insiders own 64.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BTAI. BlackRock Inc. boosted its position 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 valued at $3,278,000 after acquiring an additional 284,818 shares during the last quarter. Vanguard Group Inc. boosted its position 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 valued at $2,842,000 after acquiring an additional 80,959 shares during the last quarter. Northern Trust Corp boosted its position 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 valued at $481,000 after acquiring an additional 31,218 shares during the last quarter. Creative Planning bought a new stake in shares of BioXcel Therapeutics during the 1st quarter valued at about $302,000. Finally, Renaissance Technologies LLC boosted its position 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 valued at $785,000 after acquiring an additional 26,800 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

BioXcel Therapeutics Company Profile

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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