Pasithea Therapeutics Corp. (NASDAQ:KTTA) Sees Large Drop in Short Interest

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 264,669 shares, a decline of 27.8% from the January 15th total of 366,534 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 121,258 shares, the short-interest ratio is currently 2.2 days. Based on an average trading volume of 121,258 shares, the short-interest ratio is currently 2.2 days. Approximately 1.2% of the company’s shares are short sold.

Insider Buying and Selling

In other Pasithea Therapeutics news, Director Lawrence Steinman purchased 133,333 shares of the business’s stock in a transaction on Friday, November 28th. The stock was bought at an average cost of $0.75 per share, for a total transaction of $99,999.75. Following the acquisition, the director owned 199,691 shares of the company’s stock, valued at approximately $149,768.25. The trade was a 200.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AdvisorShares Investments LLC increased its stake in Pasithea Therapeutics by 261.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock worth $140,000 after buying an additional 140,000 shares during the period. Vivo Capital LLC purchased a new position in Pasithea Therapeutics in the 4th quarter valued at about $2,709,000. Jane Street Group LLC grew its stake in shares of Pasithea Therapeutics by 137.0% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Pasithea Therapeutics by 113.9% during the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock worth $70,000 after acquiring an additional 29,020 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Pasithea Therapeutics by 43.7% in the third quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock worth $48,000 after acquiring an additional 20,483 shares in the last quarter. 23.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KTTA has been the subject of a number of recent analyst reports. Wall Street Zen raised Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. Zacks Research upgraded shares of Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. Finally, HC Wainwright started coverage on shares of Pasithea Therapeutics in a research report on Monday, December 8th. They issued a “buy” rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Pasithea Therapeutics Trading Up 1.4%

KTTA stock opened at $0.71 on Friday. The company has a market cap of $16.40 million, a PE ratio of -0.14 and a beta of 0.21. The stock has a 50-day moving average price of $0.98 and a two-hundred day moving average price of $0.84. Pasithea Therapeutics has a 12-month low of $0.28 and a 12-month high of $3.79.

Pasithea Therapeutics (NASDAQ:KTTA) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.41) 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.