Short Interest in Pasithea Therapeutics Corp. (NASDAQ:KTTA) Declines By 30.8%

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 183,118 shares, a decrease of 30.8% from the January 29th total of 264,669 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 156,541 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 156,541 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Pasithea Therapeutics

A number of hedge funds have recently modified their holdings of the company. Two Sigma Investments LP acquired a new position in Pasithea Therapeutics during the 3rd quarter worth about $26,000. Citadel Advisors LLC boosted its stake in shares of Pasithea Therapeutics by 43.7% in the third 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 during the period. Geode Capital Management LLC increased its stake in Pasithea Therapeutics by 113.9% during the 4th 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 during the period. Jane Street Group LLC lifted its holdings in 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 buying an additional 34,319 shares in the last quarter. Finally, AdvisorShares Investments LLC grew its stake in shares of Pasithea Therapeutics by 33.1% in the third quarter. AdvisorShares Investments LLC now owns 257,696 shares of the company’s stock worth $186,000 after acquiring an additional 64,149 shares in the last quarter. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pasithea Therapeutics Stock Up 5.2%

Shares of KTTA stock traded up $0.04 on Friday, hitting $0.88. The company had a trading volume of 93,583 shares, compared to its average volume of 170,129. Pasithea Therapeutics has a twelve month low of $0.28 and a twelve month high of $3.79. The firm has a market cap of $20.36 million, a P/E ratio of -0.17 and a beta of 0.21. The company has a 50-day moving average price of $0.92 and a 200-day moving average price of $0.85.

Pasithea Therapeutics Company Profile

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.