Short Interest in Pasithea Therapeutics Corp. (NASDAQ:KTTA) Increases By 23.8%

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 559,624 shares, a growth of 23.8% from the December 15th total of 452,180 shares. Based on an average daily volume of 403,767 shares, the short-interest ratio is currently 1.4 days. Approximately 2.5% of the company’s shares are short sold. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 403,767 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analyst Weigh In

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

Pasithea Therapeutics Stock Down 1.4%

NASDAQ:KTTA traded down $0.01 during mid-day trading on Tuesday, reaching $0.91. 137,366 shares of the company were exchanged, compared to its average volume of 257,254. The stock has a market cap of $21.08 million, a PE ratio of -0.18 and a beta of 0.22. The company has a fifty day moving average of $0.98 and a 200 day moving average of $0.83. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $3.85.

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

Insiders Place Their Bets

In related news, Director Lawrence Steinman acquired 133,333 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were purchased at an average cost of $0.75 per share, with a total value of $99,999.75. Following the completion of the transaction, the director owned 199,691 shares of the company’s stock, valued at approximately $149,768.25. This trade represents a 200.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired 199,999 shares of company stock worth $149,999 over the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AdvisorShares Investments LLC boosted its stake in shares of Pasithea Therapeutics by 261.5% during the second quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock valued at $140,000 after purchasing an additional 140,000 shares in the last quarter. Two Sigma Investments LP bought a new position in Pasithea Therapeutics in the 3rd quarter valued at approximately $26,000. Finally, Citadel Advisors LLC boosted its position in 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. 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.