BioXcel Therapeutics (NASDAQ:BTAI) had its price target cut to $1.00 at UBS Group

BioXcel Therapeutics (NASDAQ:BTAI – Free Report) The target price was dropped by UBS Group from $3.50 to $1.00 in a research note on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently commented on BTAI. Canaccord Genuity Group reaffirmed a buy rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research report on Thursday, June 27th. HC Wainwright cut their price target on shares of BioXcel Therapeutics from $10.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $10.60.

Check out the latest stock analysis on BTAI

BioXcel Therapeutics trading down 10.1%

Shares of BTAI stock opened at $0.66 on Friday. BioXcel Therapeutics has a 12-month low of $0.65 and a 12-month high of $5.62. The stock has a market cap of $24.68 million, a P/E ratio of -0.13 and a beta of 0.32. The company has a 50 day simple moving average of $1.19 and a two hundred day simple moving average of $2.18.

BioXcel Therapeutics (NASDAQ:BTAI – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.55. The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $0.80 million. In the same quarter last year, the company earned ($1.83) earnings per share. As a group, equities analysts forecast that BioXcel Therapeutics will post -2.74 earnings per share for the current year.

Insider buying and selling

In related news, CEO Vimal Mehta sold 126,014 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $1.63, for a total value of $205,402.82. Following the transaction, the chief executive officer now directly owns 7,811,515 shares of the company’s stock, valued at approximately $12,732,769.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Over the last 90 days, insiders have sold 128,520 shares of company stock worth $208,611. 35.80% of shares are owned by insiders.

Institutional Marketing of BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp purchased a new position in shares of BioXcel Therapeutics in the fourth quarter valued at about $32,000. Apollon Wealth Management LLC bought a new position in BioXcel Therapeutics in the fourth quarter valued at about $31,000. Tower Research Capital LLC TRC grew its holdings in BioXcel Therapeutics by 239.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after buying an additional 9,754 shares in the the last quarter. Pennant Investors LP bought a new stake in BioXcel Therapeutics in the 4th quarter valued at approximately $248,000. Finally, Virtu Financial LLC bought a new stake in BioXcel Therapeutics in the 4th quarter valued at approximately $176,000. 30.68% of shares are currently owned by institutional investors.

About BioXcel Therapeutics

(Get a free report)

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, is committed to using artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company’s drug innovation approach uses existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indications.

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