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

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

Wall Street Analyst Weigh In

KTTA has been the subject of a number of research reports. HC Wainwright initiated coverage on Pasithea Therapeutics in a research report on Monday, December 8th. They set a “buy” rating and a $3.00 price target for the company. Wall Street Zen raised Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research upgraded Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Monday, December 29th. One equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

Insider Activity

In other news, Director Lawrence Steinman acquired 133,333 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $0.75 per share, for a total transaction of $99,999.75. Following the acquisition, the director directly owned 199,691 shares in the company, valued at approximately $149,768.25. This represents a 200.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have acquired 199,999 shares of company stock worth $149,999. 2.00% of the stock is owned by insiders.

Institutional Trading of Pasithea Therapeutics

Several large investors have recently modified their holdings of the business. AdvisorShares Investments LLC increased its position in shares of Pasithea Therapeutics by 33.1% during the third quarter. AdvisorShares Investments LLC now owns 257,696 shares of the company’s stock worth $186,000 after acquiring an additional 64,149 shares during the last quarter. Citadel Advisors LLC grew its stake 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 purchasing an additional 20,483 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Pasithea Therapeutics during the 3rd quarter worth approximately $26,000. 23.92% of the stock is currently owned by institutional investors and hedge funds.

Pasithea Therapeutics Price Performance

NASDAQ KTTA traded up $0.04 on Monday, reaching $0.93. The company had a trading volume of 86,434 shares, compared to its average volume of 258,043. Pasithea Therapeutics has a 1 year low of $0.28 and a 1 year high of $3.85. The firm has a 50-day moving average of $0.98 and a 200-day moving average of $0.83. The firm has a market capitalization of $21.37 million, a PE ratio of -0.18 and a beta of 0.22.

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

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.