Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Down 34.5% in January

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 366,534 shares, a drop of 34.5% from the December 31st total of 559,624 shares. Based on an average daily trading volume, of 283,614 shares, the short-interest ratio is currently 1.3 days. Approximately 1.6% of the company’s shares are sold short. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 283,614 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Lawrence Steinman purchased 133,333 shares of the business’s stock in a transaction on Friday, November 28th. The shares were acquired at an average price of $0.75 per share, with a total value of $99,999.75. Following the completion of the transaction, the director owned 199,691 shares of the company’s stock, valued at $149,768.25. The trade was a 200.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 199,999 shares of company stock worth $149,999 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Pasithea Therapeutics

Institutional investors have recently bought and sold shares of the company. AdvisorShares Investments LLC increased its position in Pasithea Therapeutics by 261.5% in the second 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 last quarter. Citadel Advisors LLC grew its stake in shares of 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, Two Sigma Investments LP purchased a new stake in Pasithea Therapeutics in the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Pasithea Therapeutics Trading Up 0.1%

Shares of NASDAQ:KTTA traded up $0.00 during midday trading on Friday, reaching $0.86. The company had a trading volume of 131,088 shares, compared to its average volume of 198,699. The stock has a market cap of $19.88 million, a P/E ratio of -0.17 and a beta of 0.22. The company’s 50 day moving average price is $1.04 and its 200 day moving average price is $0.84. Pasithea Therapeutics has a 52-week low of $0.28 and a 52-week high of $3.85.

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.

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.