Pasithea Therapeutics (NASDAQ:KTTA) Given Buy Rating at HC Wainwright

Pasithea Therapeutics (NASDAQ:KTTA)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 476.92% from the company’s previous close.

Several other research firms have also commented on KTTA. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Friday, March 27th. Zacks Research upgraded Pasithea Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. One 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 an average price target of $3.00.

Pasithea Therapeutics Stock Performance

NASDAQ KTTA traded down $0.04 during trading hours on Tuesday, reaching $0.52. The stock had a trading volume of 216,292 shares, compared to its average volume of 359,589. The stock has a fifty day moving average of $0.71 and a 200 day moving average of $0.85. The stock has a market cap of $12.97 million, a P/E ratio of -0.25 and a beta of 0.25. Pasithea Therapeutics has a 52-week low of $0.28 and a 52-week high of $2.06.

Pasithea Therapeutics (NASDAQ:KTTA) last issued its earnings results on Friday, May 15th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.33. On average, equities research analysts forecast that Pasithea Therapeutics will post -0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC lifted its position 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 valued at $48,000 after buying an additional 20,483 shares in the last quarter. Geode Capital Management LLC raised its stake in Pasithea Therapeutics by 113.9% in the 4th quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after purchasing an additional 29,020 shares during the last quarter. AdvisorShares Investments LLC raised its stake in Pasithea Therapeutics by 10.8% in the 1st quarter. AdvisorShares Investments LLC now owns 337,508 shares of the company’s stock valued at $250,000 after purchasing an additional 32,787 shares during the last quarter. Jane Street Group LLC raised 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 purchasing an additional 34,319 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Pasithea Therapeutics in the 3rd quarter valued at $26,000. Hedge funds and other 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.