Pasithea Therapeutics (NASDAQ:KTTA) Raised to “Hold” at Zacks Research

Pasithea Therapeutics (NASDAQ:KTTA) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on KTTA. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday, March 27th. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Pasithea Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Pasithea Therapeutics has a consensus rating of “Hold” and a consensus price target of $3.00.

Pasithea Therapeutics Trading Down 9.8%

NASDAQ:KTTA opened at $0.65 on Monday. The stock has a market capitalization of $16.09 million, a price-to-earnings ratio of -0.31 and a beta of 0.25. The firm has a fifty day simple moving average of $0.74 and a two-hundred day simple moving average of $0.85. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $2.06.

Pasithea Therapeutics (NASDAQ:KTTA) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.33. Equities analysts predict that Pasithea Therapeutics will post -0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in shares of Pasithea Therapeutics in the fourth quarter valued at $2,720,000. Vivo Capital LLC bought a new position in shares of Pasithea Therapeutics in the fourth quarter valued at $2,709,000. Squadron Capital Management LLC bought a new position in shares of Pasithea Therapeutics in the fourth quarter valued at $2,709,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Pasithea Therapeutics in the fourth quarter valued at $2,709,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Pasithea Therapeutics in the fourth quarter valued at $375,000. 23.92% of the stock is owned by institutional investors.

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.