5 Best Day Trading Stocks To Buy

3. BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

Number of Hedge Fund Holders: 6  

Average Trading Volume as of November 2: 4.6 Million

Share Price Gain in Past Month: 80%    

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) is a commercial-stage biopharmaceutical company that engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The stock has gained in the past few weeks after the firm announced that the Centers for Medicare & Medicaid Services had granted a permanent and product-specific J-code for Igalmi, a psychiatric therapy being developed by the firm. J-codes are used by government and commercial health insurers to simplify and streamline billing and reimbursement of Medicare Part B drugs administered at outpatient facilities. 

On August 18, investment advisory HC Wainwright maintained a Buy rating on BioXcel Therapeutics, Inc. (NASDAQ:BTAI) stock and lowered the price target to $11 from $60, citing second quarter results and revenue forecast downgrades. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Citadel Investment Group is a leading shareholder in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) with 98,800 shares worth more than $658,000. 

At the end of the second quarter of 2023, 6 hedge funds in the database of Insider Monkey held stakes worth $15 million in BioXcel Therapeutics, Inc. (NASDAQ:BTAI), compared to 7 in the previous quarter worth $53 million.