Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. BioXcel Therapeutics Inc shares valued at $13,823 were sold by Mehta Vimal on Apr 04 ’24. At $2.62 per share, Mehta Vimal sold 5,268 shares. The insider’s holdings dropped to 43,564 shares worth approximately $92355.68000000001 following the completion of this transaction.
Also, Steinhart Richard I sold 1,069 shares, netting a total of over 2,817 in proceeds. Following the sale of shares at $2.63 each, the insider now holds 4,765 shares.
Before that, Yocca Frank had sold 1,067 shares from its account. In a trade valued at $2,812, the Chief Scientific Officer traded BioXcel Therapeutics Inc shares for $2.63 each. Upon closing the transaction, the insider’s holdings decreased to 1,067 shares, worth approximately $27057.56.
As published in a research note from UBS on February 21, 2024, BioXcel Therapeutics Inc [BTAI] has been rated down from a Buy to a Neutral and the price target has been revised to $4 from $9. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of July 17, 2023, Guggenheim has decreased its “Buy” rating to a “Neutral” for BTAI. Earlier on March 10, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for BTAI stock which previously was a “a Buy”.
Analyzing BTAI Stock Performance
During the last five days, there has been a drop of approximately -16.54%. Over the course of the year, BioXcel Therapeutics Inc shares have dropped approximately -28.14%. Shares of the company reached a 52-week high of $4.17 on 02/06/24 and a 52-week low of $1.91 on 02/09/24. A 50-day SMA is recorded $2.76, while a 200-day SMA reached $3.56. Nevertheless, trading volume fell to 0.8 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for BioXcel Therapeutics Inc (BTAI)
According to the 24-hour chart, there is a support level at 2.02, which, if violated, would cause prices to drop to 1.93. In the upper region, resistance lies at 2.29. The next price resistance is at 2.46. RSI (Relative Strength Index) is 29.44 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 97.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
