Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Down 27.8% in January

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 264,669 shares, a drop of 27.8% from the January 15th total of 366,534 shares. Based on an average daily volume of 121,258 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.2% of the shares of the company are sold short. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 121,258 shares, the days-to-cover ratio is presently 2.2 days.

Insider Transactions at Pasithea Therapeutics

In other news, Director Lawrence Steinman bought 133,333 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were acquired at an average cost of $0.75 per share, with a total value of $99,999.75. Following the completion of the transaction, the director directly owned 199,691 shares in the company, valued at $149,768.25. This represents a 200.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders purchased 199,999 shares of company stock valued at $149,999. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vivo Capital LLC bought a new stake in shares of Pasithea Therapeutics in the 4th quarter valued at about $2,709,000. AdvisorShares Investments LLC boosted its holdings in Pasithea Therapeutics by 18.2% during the fourth quarter. AdvisorShares Investments LLC now owns 304,721 shares of the company’s stock worth $393,000 after buying an additional 47,025 shares in the last quarter. Citadel Advisors LLC raised 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 buying an additional 20,483 shares during the period. Jane Street Group LLC lifted its stake in Pasithea Therapeutics by 137.0% in the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after buying an additional 34,319 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Pasithea Therapeutics by 113.9% in the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after buying an additional 29,020 shares during the last quarter. 23.92% of the stock is currently owned by hedge funds and other institutional investors.

Pasithea Therapeutics Stock Up 1.4%

Shares of KTTA traded up $0.01 during mid-day trading on Friday, hitting $0.71. 39,633 shares of the company’s stock traded hands, compared to its average volume of 141,343. Pasithea Therapeutics has a 1 year low of $0.28 and a 1 year high of $3.79. The business’s 50-day moving average price is $0.98 and its 200-day moving average price is $0.84. The firm has a market capitalization of $16.40 million, a P/E ratio of -0.14 and a beta of 0.21.

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

Wall Street Analysts Forecast Growth

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