Pasithea Therapeutics (NASDAQ:KTTA) Shares Down 1.3% – Time to Sell?

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was down 1.3% on Monday . The stock traded as low as $0.77 and last traded at $0.77. Approximately 81,938 shares traded hands during trading, a decline of 81% from the average daily volume of 421,617 shares. The stock had previously closed at $0.7801.

Wall Street Analysts Forecast Growth

KTTA has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Pasithea Therapeutics in a report on Monday, April 20th. Zacks Research cut Pasithea Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pasithea Therapeutics currently has a consensus rating of “Reduce” and an average target price of $3.00.

Pasithea Therapeutics Stock Up 2.8%

The stock’s 50-day moving average price is $0.76 and its 200-day moving average price is $0.85. The company has a market capitalization of $18.01 million, a price-to-earnings ratio of -0.35 and a beta of 0.22.

Pasithea Therapeutics (NASDAQ:KTTA) last announced its earnings results on Friday, May 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.33. On average, equities research analysts anticipate that Pasithea Therapeutics Corp. will post -1.86 EPS for the current year.

Institutional Investors Weigh In On Pasithea Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP bought a new stake in shares of Pasithea Therapeutics during the third quarter worth $26,000. Geode Capital Management LLC raised its position 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 acquiring an additional 29,020 shares during the last quarter. Jane Street Group LLC grew its position 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 buying an additional 34,319 shares during the period. Citadel Advisors LLC grew its position 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 buying an additional 20,483 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Pasithea Therapeutics during the 1st quarter worth approximately $69,000. Institutional investors own 23.92% of the company’s stock.

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.