Pasithea Therapeutics (NASDAQ:KTTA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pasithea Therapeutics (NASDAQ:KTTA) to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also recently issued reports on KTTA. HC Wainwright initiated coverage on Pasithea Therapeutics in a research note on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pasithea Therapeutics currently has a consensus rating of “Hold” and an average price target of $3.00.

Pasithea Therapeutics Trading Down 2.8%

Pasithea Therapeutics stock opened at $0.91 on Friday. The business’s 50 day simple moving average is $0.97 and its 200 day simple moving average is $0.82. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $3.85. The company has a market cap of $20.90 million, a price-to-earnings ratio of -0.18 and a beta of 0.22.

Pasithea Therapeutics (NASDAQ:KTTA) last released 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 purchased 133,333 shares of Pasithea Therapeutics stock in a transaction dated Friday, November 28th. The stock was purchased at an average cost of $0.75 per share, for a total transaction of $99,999.75. Following the transaction, the director directly owned 199,691 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. Over the last ninety days, insiders have acquired 199,999 shares of company stock valued at $149,999. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pasithea Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its stake in Pasithea Therapeutics by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock worth $48,000 after acquiring an additional 20,483 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics during the third quarter worth about $26,000. Finally, AdvisorShares Investments LLC increased its position 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 purchasing an additional 64,149 shares during the last quarter. Institutional investors own 23.92% of the company’s stock.

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.