Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Update

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 559,624 shares, an increase of 23.8% from the December 15th total of 452,180 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 403,767 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 403,767 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Zacks Research raised shares of Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. Finally, HC Wainwright initiated coverage on shares of Pasithea Therapeutics in a research report on Monday, December 8th. They issued a “buy” rating and a $3.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.00.

Pasithea Therapeutics Trading Up 4.1%

Shares of NASDAQ KTTA traded up $0.04 during midday trading on Monday, reaching $0.93. 86,434 shares of the stock were exchanged, compared to its average volume of 258,043. The company has a market capitalization of $21.37 million, a P/E ratio of -0.18 and a beta of 0.22. The stock has a 50 day moving average price of $0.98 and a 200-day moving average price of $0.83. Pasithea Therapeutics has a 52-week low of $0.28 and a 52-week high of $3.85.

Pasithea Therapeutics (NASDAQ:KTTA) last announced its earnings results on Thursday, November 13th. The company reported ($0.41) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In other news, Director Lawrence Steinman bought 133,333 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were bought at an average cost of $0.75 per share, for a total transaction of $99,999.75. Following the completion of the transaction, the director owned 199,691 shares in the company, valued at $149,768.25. This trade represents a 200.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 199,999 shares of company stock worth $149,999 in the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Pasithea Therapeutics

A number of hedge funds have recently added to or reduced their stakes in KTTA. Citadel Advisors LLC increased its stake in shares of Pasithea Therapeutics by 43.7% during the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock valued at $48,000 after acquiring an additional 20,483 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Pasithea Therapeutics in the third quarter worth approximately $26,000. Finally, AdvisorShares Investments LLC grew its holdings in Pasithea Therapeutics by 33.1% in the third quarter. AdvisorShares Investments LLC now owns 257,696 shares of the company’s stock valued at $186,000 after purchasing an additional 64,149 shares during the period. 23.92% of the stock is owned by institutional investors and hedge funds.

About Pasithea Therapeutics

Pasithea Therapeutics, Inc (NASDAQ: KTTA) is a clinical‐stage biopharmaceutical company focused on the discovery, development and eventual commercialization of engineered antibody therapeutics for immunological diseases. Leveraging a proprietary discovery engine that integrates advanced computational biology, high-throughput screening and structural analysis, the company aims to identify and generate novel therapeutic molecules that modulate key immune pathways.

The company’s pipeline consists of multiple preclinical and early clinical candidates targeting autoimmune and inflammatory disorders.