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BioXcel Therapeutics Inc. (NASDAQ:BTAI) Falls -45.90% In 2023; Is It Still Attractive At $3.34?

In last trading session, BioXcel Therapeutics Inc. (NASDAQ:BTAI) saw 3.88 million shares changing hands with its beta currently measuring 0.99. Company’s recent per share price level of $3.34 trading at -$0.07 or -2.05% at ring of the bell on the day assigns it a market valuation of $89.38M. That closing price of BTAI’s stock is at a discount of -921.56% from its 52-week high price of $34.12 and is indicating a premium of 1.8% from its 52-week low price of $3.28. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.9 million shares which gives us an average trading volume of 3.01 million if we extend that period to 3-months.

For BioXcel Therapeutics Inc. (BTAI), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$1.31 in the current quarter.

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BioXcel Therapeutics Inc. (NASDAQ:BTAI) trade information

Upright in the red during last session for losing -2.05%, in the last five days BTAI remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $3.34 price level, adding 10.7% to its value on the day. BioXcel Therapeutics Inc.’s shares saw a change of -84.45% in year-to-date performance and have moved -10.70% in past 5-day. BioXcel Therapeutics Inc. (NASDAQ:BTAI) showed a performance of -19.90% in past 30-days. Number of shares sold short was 4.4 million shares which calculate 2.85 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $12.63 to the stock, which implies a rise of 73.56% to its current value. Analysts have been projecting $4.00 as a low price target for the stock while placing it at a high target of $31.00. It follows that stock’s current price would drop -828.14% in reaching the projected high whereas dropping to the targeted low would mean a loss of -19.76% for stock’s current value.

BioXcel Therapeutics Inc. (BTAI) estimates and forecasts

Statistics highlight that BioXcel Therapeutics Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -82.82% of value to its shares in past 6 months, showing an annual growth rate of 2.87% while that of industry is 12.00. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 12.10% in the current quarter and calculating 50.80% increase in the next quarter. This year revenue growth is estimated to rise 537.30% from the last financial year’s standing.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $690k for the same. And 9 analysts are in estimates of company making revenue of $990k in the next quarter that will end on Dec 2023. Company posted $137k and $238k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 403.60% while estimating it to be 316.00% for the next quarter.

BTAI Dividends

BioXcel Therapeutics Inc. is more likely to be releasing its next quarterly report between November 08 and November 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

BioXcel Therapeutics Inc. (NASDAQ:BTAI)’s Major holders

Insiders are in possession of 31.03% of company’s total shares while institution are holding 60.64 percent of that, with stock having share float percentage of 87.92%. Investors also watch the number of corporate investors in a company very closely, which is 60.64% institutions for BioXcel Therapeutics Inc. that are currently holding shares of the company. FMR, LLC is the top institutional holder at BTAI for having 4.37 million shares of worth $29.13 million. And as of Jun 29, 2023, it was holding 14.94% of the company’s outstanding shares.

The second largest institutional holder is State Street Corporation, which was holding about 2.07 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.08% of outstanding shares, having a total worth of $13.8 million.

On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Fidelity Growth Company Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 1.72 million shares of worth $15.73 million or 5.88% of the total outstanding shares. The later fund manager was in possession of 1.36 million shares on Jul 30, 2023, making its stake of worth around $12.39 million in the company or a holder of 4.63% of company’s stock.

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