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

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 366,534 shares, a drop of 34.5% from the December 31st total of 559,624 shares. Based on an average daily trading volume, of 283,614 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.6% of the shares of the company are short sold. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 283,614 shares, the days-to-cover ratio is currently 1.3 days.

Insider Buying and Selling

In related news, Director Lawrence Steinman bought 133,333 shares of the stock in a transaction on Friday, November 28th. The shares were acquired at an average price of $0.75 per share, for a total transaction of $99,999.75. Following the purchase, the director owned 199,691 shares of the company’s stock, valued at approximately $149,768.25. The trade was a 200.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 199,999 shares of company stock valued at $149,999. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Pasithea Therapeutics

A number of large investors have recently made changes to their positions in KTTA. Two Sigma Investments LP purchased a new position in Pasithea Therapeutics in the third quarter worth about $26,000. Citadel Advisors LLC lifted its stake in shares of 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 during the last quarter. Finally, AdvisorShares Investments LLC boosted its holdings in shares of Pasithea Therapeutics by 261.5% in the 2nd quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock worth $140,000 after purchasing an additional 140,000 shares during the period. 23.92% of the stock is currently owned by institutional investors.

Pasithea Therapeutics Stock Down 1.8%

KTTA traded down $0.02 on Monday, hitting $0.85. 82,630 shares of the company’s stock traded hands, compared to its average volume of 192,266. The company’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $0.84. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $3.85.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. HC Wainwright began coverage on Pasithea Therapeutics in a research note on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective for the company. Zacks Research upgraded Pasithea Therapeutics to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen raised Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Monday, December 29th. One investment 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.