Pasithea Therapeutics (NASDAQ:KTTA) Given Buy Rating at HC Wainwright

Pasithea Therapeutics (NASDAQ:KTTA)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 476.92% from the company’s previous close.

Other research analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Friday, March 27th. Zacks Research raised Pasithea Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.00.

Pasithea Therapeutics Price Performance

NASDAQ KTTA traded down $0.04 during mid-day trading on Tuesday, hitting $0.52. The stock had a trading volume of 216,292 shares, compared to its average volume of 359,589. The firm’s 50 day moving average is $0.71 and its 200 day moving average is $0.85. Pasithea Therapeutics has a twelve month low of $0.28 and a twelve month high of $2.06. The stock has a market capitalization of $12.97 million, a price-to-earnings ratio of -0.25 and a beta of 0.25.

Pasithea Therapeutics (NASDAQ:KTTA) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.33. As a group, equities research analysts expect that Pasithea Therapeutics will post -0.76 earnings per share for the current year.

Hedge Funds Weigh In On Pasithea Therapeutics

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics during the 3rd quarter worth $26,000. Citadel Advisors LLC boosted its holdings in Pasithea Therapeutics by 43.7% during the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock valued at $48,000 after acquiring an additional 20,483 shares during the period. Renaissance Technologies LLC purchased a new position in Pasithea Therapeutics during the 1st quarter valued at about $69,000. Geode Capital Management LLC boosted its holdings in Pasithea Therapeutics by 113.9% during the 4th quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after acquiring an additional 29,020 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Pasithea Therapeutics by 137.0% during the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after acquiring an additional 34,319 shares during the period. 23.92% of the stock is currently owned by hedge funds and other institutional investors.

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.