Wall Street Zen Upgrades Pasithea Therapeutics (NASDAQ:KTTA) to Sell

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

Several other brokerages also recently commented on KTTA. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. HC Wainwright initiated coverage on Pasithea Therapeutics in a research note on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective on the stock. Finally, Zacks Research upgraded Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.00.

Pasithea Therapeutics Stock Performance

KTTA opened at $0.93 on Friday. The firm has a market cap of $21.50 million, a price-to-earnings ratio of -0.18 and a beta of 0.22. The firm’s 50-day simple moving average is $0.97 and its 200-day simple moving average is $0.82. Pasithea Therapeutics has a twelve month low of $0.28 and a twelve month high of $3.85.

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

Insider Buying and Selling

In other news, Director Lawrence Steinman bought 133,333 shares of the stock in a transaction dated Friday, November 28th. The stock was bought at an average cost of $0.75 per share, with a total value of $99,999.75. Following the purchase, the director owned 199,691 shares of the company’s stock, valued at approximately $149,768.25. This represents a 200.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 199,999 shares of company stock valued at $149,999. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pasithea Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in Pasithea Therapeutics in the third quarter worth about $26,000. Citadel Advisors LLC boosted its stake in shares of 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 purchasing an additional 20,483 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its position in shares of 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. Institutional investors own 23.92% of the company’s stock.

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.