HC Wainwright & Co. maintained its BioXcel Therapeutics [BTAI] rating to the equivalent of Buy but changed the price target to $185 from $175, in a research note dated 2021-01-06. That figure represents around a 287.52% premium from where the company’s shares closed on Tuesday. Some new analysts also started their coverage, with Jefferies’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in early September. Meanwhile, H.C. Wainwright had maintained its rating on BTAI to the earlier “Buy” rating, in a research note produced for clients August 17, 2020. In addition, there was no change from H.C. Wainwright on July 08, 2020. The rater maintained BTAI to “a Buy” but assigned new target price of $120.
Is BioXcel Therapeutics Inc. [NASDAQ:BTAI] a Good Buy Right Now?
It should be noted that BTAI technical indicators for short, intermediate as well as long term progress have placed an overall average of 32% as Buy. The average signal changed from 88% Buy in the last week and compares with 24% Buy in the past month. Data from BioXcel Therapeutics Inc.’s Trend Spotter indicated that the signals were Rising. The stock current average is 0.56 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 0.46 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.53 million shares.
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BTAI Price Performance
On Wall Street, BioXcel Therapeutics Inc. [NASDAQ:BTAI] finished Tuesday’s session down -8.63% at $47.74. The stock went up to $52.70 at the same session while its lowest single day price was $46.63. In the last five days, it saw a fall of about -5.54%, BioXcel Therapeutics Inc. shares gained by almost 3.33% since the beginning of the year. However, the share price has dropped to as low as -33.23% below its one year high. On 01/05/21, the company shares recorded $52.70, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $46.63. The company’s shares have inclined by 197.63% in the past year. The 50-day SMA achieved is $48.80 while the 200-day SMA is $44.68. Volume gained to 2.74 million from 0.56 million in the previous session.
BTAI Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 45.35 level, and in case of violation of this particular level, it will cause more drop to 42.95 level. On the upper level, 55.09 is still the key resistance. The stock may increase to the subsequent resistance at 51.42. The Relative Strength Index (RSI) pinned on the 14-day chart is 48.09, implying a neutral technical stance while the MACD stands at -1.38, meaning price will decrease in the next trading period. Percent R indicator moved to 71.63%, implying bearish price movement. Stochastic %K at 45.83% suggest selling the stock.
What is the short interest in BioXcel Therapeutics Inc.?
Short interest in the BioXcel Therapeutics Inc. stock has plunged, decreasing by -0.24 million shares to total 3.19 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.95 million, data from Yahoo Finance shows. The increase of 7.52% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 21.74% of the overall float for the stock.
BioXcel Therapeutics Inc.’s Biggest Shareholders: Who Owns BioXcel Therapeutics Inc. [BTAI]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 1,919,986 shares or roughly 7.88% of the outstanding BTAI shares. This means their shares have increased by 1,752,696 from the 1,919,986 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, SSgA Funds Management, Inc. updated stake is worth $56,929,664. Details in the latest 13F filings reveal that Artemis Investment Management LLP acquired their 42.80% stake valued at $44,075,152 while DNCA Finance SA cut theirs at $39,267,932. During the last quarter, Artemis Investment Management LLP raised 300,210 of its shares in BioXcel Therapeutics Inc. while DNCA Finance SA sold -18,626 shares. The Vanguard Group, Inc.’s holdings currently number 829,760 shares at $39612742.4. According to the firm’s last 13F report, Citadel Advisors LLC shares in the company at filing stood at 749,621 shares, roughly $32,983,324.