Pasithea Therapeutics (NASDAQ:KTTA) Director Acquires $24,999.75 in Stock

Pasithea Therapeutics Corp. (NASDAQ:KTTA) Director Simon Dumesnil bought 33,333 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was acquired at an average cost of $0.75 per share, with a total value of $24,999.75. Following the transaction, the director owned 35,833 shares in the company, valued at $26,874.75. The trade was a 1,333.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Pasithea Therapeutics Stock Up 27.8%

Shares of NASDAQ KTTA opened at $1.36 on Monday. The firm’s 50-day moving average price is $0.74 and its 200-day moving average price is $0.76. Pasithea Therapeutics Corp. has a 52-week low of $0.28 and a 52-week high of $3.85. The company has a market cap of $10.08 million, a PE ratio of -0.27 and a beta of 0.20.

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

Institutional Investors Weigh In On Pasithea Therapeutics

A number of hedge funds have recently modified their holdings of the business. Two Sigma Investments LP bought a new position in Pasithea Therapeutics in the 3rd quarter worth $26,000. Citadel Advisors LLC raised 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 worth $48,000 after acquiring an additional 20,483 shares during the period. Finally, AdvisorShares Investments LLC lifted its holdings in Pasithea Therapeutics by 261.5% during the second quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock valued at $140,000 after purchasing an additional 140,000 shares in the last quarter. Institutional investors own 23.92% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pasithea Therapeutics in a report on Monday, November 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pasithea Therapeutics has an average rating of “Sell”.

About Pasithea Therapeutics

Pasithea Therapeutics Corp., a biotechnology company, engages in discovery, research, and development of treatments for central nervous system disorders, RASopathies, and other diseases. Its lead product candidate PAS-004, a next-generation macrocyclic mitogen-activated protein kinase, or MEK inhibitor for use in the treatment of a range of RASopathies, including neurofibromatosis type 1 oncology indications.