Pasithea Therapeutics (NASDAQ:KTTA) Announces Quarterly Earnings Results

Pasithea Therapeutics (NASDAQ:KTTA) issued its quarterly earnings data on Monday. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.71), FiscalAI reports.

Pasithea Therapeutics Stock Performance

Shares of KTTA stock traded down $0.05 during trading on Wednesday, hitting $0.69. The company had a trading volume of 7,220,602 shares, compared to its average volume of 266,862. The firm has a market capitalization of $15.86 million, a P/E ratio of -0.19 and a beta of 0.20. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $3.79. The stock’s 50-day moving average price is $0.80 and its 200 day moving average price is $0.85.

Analyst Ratings Changes

KTTA has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday. HC Wainwright initiated coverage on Pasithea Therapeutics in a research report on Monday, December 8th. They set a “buy” rating and a $3.00 price objective on the stock. Zacks Research raised Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen raised shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. 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 stock. According to MarketBeat.com, Pasithea Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Hedge Funds Weigh In On Pasithea Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KTTA. Two Sigma Investments LP bought a new stake in shares of Pasithea Therapeutics during the 3rd quarter valued at approximately $26,000. Citadel Advisors LLC increased its holdings in Pasithea Therapeutics by 43.7% in the third 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 period. Geode Capital Management LLC lifted its holdings in Pasithea Therapeutics by 113.9% during the 4th quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock worth $70,000 after buying an additional 29,020 shares during the period. Jane Street Group LLC grew its position in shares of 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 during the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Pasithea Therapeutics in the 4th quarter valued at about $375,000. 23.92% of the stock is owned by institutional investors and hedge funds.

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.