Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Down 27.8% in January

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 264,669 shares, a drop of 27.8% from the January 15th total of 366,534 shares. Based on an average trading volume of 121,258 shares, the short-interest ratio is currently 2.2 days. Approximately 1.2% of the company’s stock are short sold. Approximately 1.2% of the company’s stock are short sold. Based on an average trading volume of 121,258 shares, the short-interest ratio is currently 2.2 days.

Pasithea Therapeutics Stock Performance

Shares of KTTA opened at $0.71 on Friday. The stock has a market capitalization of $16.40 million, a P/E ratio of -0.14 and a beta of 0.21. The company’s fifty day moving average is $0.98 and its two-hundred day moving average is $0.84. Pasithea Therapeutics has a 1 year low of $0.28 and a 1 year high of $3.79.

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

Insider Buying and Selling at Pasithea Therapeutics

In other Pasithea Therapeutics news, Director Lawrence Steinman bought 133,333 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was purchased at an average price of $0.75 per share, for a total transaction of $99,999.75. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders bought 199,999 shares of company stock worth $149,999. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pasithea Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vivo Capital LLC purchased a new stake in shares of Pasithea Therapeutics in the fourth quarter valued at $2,709,000. AdvisorShares Investments LLC raised its stake in Pasithea Therapeutics by 18.2% in the 4th quarter. AdvisorShares Investments LLC now owns 304,721 shares of the company’s stock valued at $393,000 after purchasing an additional 47,025 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Pasithea Therapeutics by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock valued at $48,000 after purchasing an additional 20,483 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Pasithea Therapeutics by 137.0% during the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock worth $77,000 after purchasing an additional 34,319 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Pasithea Therapeutics by 113.9% during the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock worth $70,000 after buying an additional 29,020 shares in the last quarter. Institutional investors and hedge funds own 23.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. Zacks Research upgraded shares of Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. Finally, HC Wainwright began coverage on shares of Pasithea Therapeutics in a research note on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.00.

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.