Pasithea Therapeutics Corp. (NASDAQ:KTTA) Stock Short Interest Report for September

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 159,831 shares, a decrease of 40.8% from the September 15th total of 270,085 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 151,144 shares, the short-interest ratio is currently 1.1 days.

Pasithea Therapeutics Stock Up 2.4%

NASDAQ KTTA traded up $0.01 during trading on Friday, hitting $0.42. 209,310 shares of the stock traded hands, compared to its average volume of 443,385. The company has a market capitalization of $14.03 million, a P/E ratio of -0.27 and a beta of 0.34. The firm has a 50-day simple moving average of $0.51 and a 200-day simple moving average of $0.58. Pasithea Therapeutics has a 12-month low of $0.28 and a 12-month high of $2.06.

Pasithea Therapeutics (NASDAQ:KTTA) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). As a group, research analysts predict that Pasithea Therapeutics will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Pasithea Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Opaleye Management Inc. purchased a new stake in shares of Pasithea Therapeutics during the second quarter valued at $1,057,000. Renaissance Technologies LLC purchased a new stake in shares of Pasithea Therapeutics in the 1st quarter worth $69,000. Finally, AdvisorShares Investments LLC grew its position in shares of Pasithea Therapeutics by 10.8% during the 1st quarter. AdvisorShares Investments LLC now owns 337,508 shares of the company’s stock worth $250,000 after buying an additional 32,787 shares in the last quarter. 23.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KTTA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, September 21st. Zacks Research downgraded Pasithea Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.00.

Pasithea Therapeutics Company Profile

Pasithea Therapeutics Corp. is a biotechnology company focused on developing treatments for central nervous system disorders and other serious diseases. The company’s research has included novel pharmaceutical therapies as well as psychedelic- and ketamine-assisted treatment approaches for conditions such as depression and other mental health disorders.

Pasithea’s development portfolio has included PAS-004, an orally administered MEK1/2 inhibitor designed to affect the RAS/MAPK signaling pathway.