Pasithea Therapeutics (NASDAQ:KTTA) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Pasithea Therapeutics (NASDAQ:KTTA) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on KTTA. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Pasithea Therapeutics in a research note on Monday, April 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

Pasithea Therapeutics Price Performance

KTTA opened at $0.65 on Monday. Pasithea Therapeutics has a 1-year low of $0.28 and a 1-year high of $2.06. The stock has a market cap of $16.09 million, a P/E ratio of -0.31 and a beta of 0.25. The stock’s 50 day simple moving average is $0.74 and its 200 day simple moving average is $0.85.

Pasithea Therapeutics (NASDAQ:KTTA) last posted its earnings results on Friday, May 15th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.33. Research analysts expect that Pasithea Therapeutics will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC lifted 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 worth $48,000 after purchasing an additional 20,483 shares during the period. Geode Capital Management LLC increased its stake in Pasithea Therapeutics by 113.9% in the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after purchasing an additional 29,020 shares during the last quarter. AdvisorShares Investments LLC lifted its position in Pasithea Therapeutics by 10.8% during the first quarter. AdvisorShares Investments LLC now owns 337,508 shares of the company’s stock worth $250,000 after buying an additional 32,787 shares during the period. Jane Street Group LLC boosted its stake in Pasithea Therapeutics by 137.0% in the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock worth $77,000 after buying an additional 34,319 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Pasithea Therapeutics in the 3rd quarter valued at about $26,000. 23.92% of the stock is currently 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.