Pasithea Therapeutics (NASDAQ:KTTA) Releases Earnings Results, Hits Expectations

Pasithea Therapeutics (NASDAQ:KTTA) posted its quarterly earnings data on Friday. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16), FiscalAI reports.

Pasithea Therapeutics Stock Up 0.5%

Pasithea Therapeutics stock traded up $0.00 during midday trading on Friday, reaching $0.48. The company’s stock had a trading volume of 43,254 shares, compared to its average volume of 519,733. The company has a market cap of $16.05 million, a P/E ratio of -0.23 and a beta of 0.29. The business has a 50-day simple moving average of $0.51 and a 200-day simple moving average of $0.67. Pasithea Therapeutics has a fifty-two week low of $0.28 and a fifty-two week high of $2.06.

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new position in Pasithea Therapeutics in the fourth quarter valued at approximately $2,720,000. Vivo Capital LLC acquired a new stake in Pasithea Therapeutics during the fourth quarter worth approximately $2,709,000. Squadron Capital Management LLC acquired a new stake in Pasithea Therapeutics during the fourth quarter worth approximately $2,709,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Pasithea Therapeutics during the 4th quarter worth approximately $2,709,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Pasithea Therapeutics during the 4th quarter worth approximately $375,000. Institutional investors and hedge funds own 23.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on KTTA. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Pasithea Therapeutics in a research note on Tuesday, June 16th. Zacks Research raised Pasithea Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.00.

About Pasithea Therapeutics

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.