BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating)'s share price traded down 8.6% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $29.82 and last traded at $29.93. 209,236 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 356,040 shares. The stock had previously closed at $32.73.
Specifically, insider Frank Yocca sold 50,000 shares of BioXcel Therapeutics stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 8,397 shares in the company, valued at approximately $251,910. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Krishnan Nandabalan sold 27,450 shares of the business's stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $15.00, for a total transaction of $411,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Yocca sold 50,000 shares of the business's stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,500,000.00. Following the transaction, the insider now owns 8,397 shares of the company's stock, valued at approximately $251,910. The disclosure for this sale can be found here. Insiders sold a total of 133,339 shares of company stock worth $3,073,310 in the last quarter. 37.00% of the stock is owned by company insiders.
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Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $85.00 to $73.00 and set a "buy" rating for the company in a report on Tuesday, January 3rd. Mizuho lifted their price target on shares of BioXcel Therapeutics from $18.00 to $24.00 in a research note on Thursday, December 15th. Canaccord Genuity Group lifted their price target on shares of BioXcel Therapeutics from $75.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, November 11th. Guggenheim cut their price target on shares of BioXcel Therapeutics from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, November 11th. Finally, The Goldman Sachs Group raised shares of BioXcel Therapeutics from a "sell" rating to a "neutral" rating and set a $16.00 price target on the stock in a research note on Thursday, December 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.78.
BioXcel Therapeutics Stock Performance
The stock's 50-day moving average price is $21.36 and its 200 day moving average price is $16.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 10.34 and a quick ratio of 10.28. The firm has a market cap of $872.32 million, a P/E ratio of -6.37 and a beta of 1.16.
BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($1.34) by ($0.15). The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $3.05 million. As a group, equities analysts predict that BioXcel Therapeutics, Inc. will post -5.37 EPS for the current year.
Institutional Trading of BioXcel Therapeutics
A number of institutional investors have recently made changes to their positions in BTAI. Point72 Hong Kong Ltd bought a new stake in shares of BioXcel Therapeutics in the second quarter worth $50,000. Quantbot Technologies LP acquired a new position in BioXcel Therapeutics during the third quarter worth $57,000. Amalgamated Bank acquired a new position in BioXcel Therapeutics during the first quarter worth $59,000. Game Plan Financial Advisors LLC acquired a new position in BioXcel Therapeutics during the second quarter worth $142,000. Finally, Virtus ETF Advisers LLC increased its holdings in BioXcel Therapeutics by 46.3% during the second quarter. Virtus ETF Advisers LLC now owns 11,284 shares of the company's stock worth $149,000 after buying an additional 3,571 shares during the last quarter. Institutional investors own 42.35% of the company's stock.
About BioXcel Therapeutics
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BioXcel Therapeutics, Inc is a commercial-stage biopharmaceutical company 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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