Tower Research Capital LLC TRC Buys 9,754 Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

Tower Research Capital LLC TRC boosted its stake in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 239.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,832 shares of the company’s stock after purchasing an additional 9,754 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BioXcel Therapeutics were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BTAI. Apollon Wealth Management LLC bought a new position in BioXcel Therapeutics in the 4th quarter worth about $31,000. Truist Financial Corp purchased a new stake in shares of BioXcel Therapeutics in the 4th quarter valued at about $32,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of BioXcel Therapeutics by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock valued at $86,000 after acquiring an additional 16,032 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of BioXcel Therapeutics by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock valued at $324,000 after acquiring an additional 14,901 shares in the last quarter. Institutional investors own 30.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BTAI. Bank of America lowered their price target on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a report on Tuesday, April 23rd. UBS Group reissued a “neutral” rating and set a $4.00 price objective (down from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group decreased their price objective on BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.71.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock traded up $0.02 during trading hours on Thursday, reaching $2.56. The company had a trading volume of 206,382 shares, compared to its average volume of 1,246,482. The company has a 50-day moving average price of $2.83 and a 200 day moving average price of $3.17. The firm has a market cap of $94.80 million, a price-to-earnings ratio of -0.41 and a beta of 0.43. BioXcel Therapeutics, Inc. has a 12-month low of $1.91 and a 12-month high of $29.56.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.22. The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $1.17 million. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. As a group, research analysts expect that BioXcel Therapeutics, Inc. will post -2.46 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.