Pasithea Therapeutics (NASDAQ:KTTA) Upgraded at Wall Street Zen

Pasithea Therapeutics (NASDAQ:KTTA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

KTTA has been the subject of a number of other reports. Zacks Research raised Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. Finally, HC Wainwright assumed coverage on shares of Pasithea Therapeutics in a research report on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective for the company. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Pasithea Therapeutics Price Performance

Shares of NASDAQ:KTTA opened at $0.93 on Friday. The business’s 50-day moving average is $0.98 and its 200 day moving average is $0.82. Pasithea Therapeutics has a 1 year low of $0.28 and a 1 year high of $3.85. The firm has a market capitalization of $21.37 million, a P/E ratio of -0.18 and a beta of 0.22.

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

Insiders Place Their Bets

In other news, Director Lawrence Steinman bought 133,333 shares of the business’s stock in a transaction on Friday, November 28th. The shares were bought at an average price of $0.75 per share, with a total value of $99,999.75. Following the completion of the transaction, the director directly owned 199,691 shares in the company, valued at $149,768.25. This trade represents a 200.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 199,999 shares of company stock valued at $149,999. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pasithea Therapeutics

Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP purchased a new stake in shares of Pasithea Therapeutics in the 3rd quarter valued at $26,000. Citadel Advisors LLC grew its position in 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 acquiring an additional 20,483 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its stake in Pasithea Therapeutics by 261.5% during the second 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 owned by institutional investors and hedge funds.

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.