Key Points
- BioXcel Therapeutics CEO Vimal Mehta sold 19,419 shares on May 20 at an average price of $1.09, totaling about $21,166.71. The sale reduced his holdings by 21.81% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- BTAI shares were down 0.9% and opened at $1.13, near the stock’s 52-week low of $1.01 versus a high of $8.08. The company’s market cap is about $34.89 million.
- BioXcel recently reported a quarterly EPS loss of $0.54, slightly worse than expectations, while revenue came in at $0.21 million versus the $0.38 million estimate. Analysts currently have a mixed view, with an overall Hold rating and an average price target of $11.00.
BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Get Free Report) CEO Vimal Mehta sold 19,419 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $1.09, for a total value of $21,166.71. Following the transaction, the chief executive officer owned 69,598 shares of the company's stock, valued at $75,861.82. The trade was a 21.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
BioXcel Therapeutics Stock Down 0.9%
Shares of NASDAQ BTAI opened at $1.13 on Friday. BioXcel Therapeutics, Inc. has a 52 week low of $1.01 and a 52 week high of $8.08. The business has a 50-day simple moving average of $1.23 and a two-hundred day simple moving average of $1.59. The company has a market cap of $34.89 million, a P/E ratio of -0.20 and a beta of 0.31.
BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.38 million. Equities research analysts anticipate that BioXcel Therapeutics, Inc. will post -2.07 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. HC Wainwright cut their target price on BioXcel Therapeutics from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a "buy" rating and a $17.00 target price for the company. Wall Street Zen downgraded BioXcel Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Zacks Research upgraded BioXcel Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BioXcel Therapeutics has an average rating of "Hold" and an average price target of $11.00.
Read Our Latest Analysis on BTAI
Institutional Trading of BioXcel Therapeutics
Large investors have recently modified their holdings of the business. Diversify Wealth Management LLC bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $27,000. HRT Financial LP bought a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $28,000. XTX Topco Ltd bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $42,000. Goldman Sachs Group Inc. bought a new stake in shares of BioXcel Therapeutics during the 1st quarter valued at about $50,000. Finally, Geode Capital Management LLC boosted its position in shares of BioXcel Therapeutics by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company's stock valued at $51,000 after acquiring an additional 6,120 shares during the last quarter. Institutional investors own 30.68% of the company's stock.
BioXcel Therapeutics Company Profile
(
Get Free Report)
BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.
BioXcel's commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.
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