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

Pasithea Therapeutics (NASDAQ:KTTA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also commented on KTTA. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Pasithea Therapeutics in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.00.

Pasithea Therapeutics Trading Up 4.1%

Shares of NASDAQ KTTA opened at $0.50 on Monday. The firm has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $0.67. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $2.06. The firm has a market capitalization of $16.63 million, a PE ratio of -0.31 and a beta of 0.29.

Pasithea Therapeutics (NASDAQ:KTTA) last released its earnings results on Friday, August 14th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). On average, sell-side analysts predict that Pasithea Therapeutics will post -0.76 earnings per share for the current year.

Institutional Investors Weigh In On Pasithea Therapeutics

Large investors have recently bought and sold shares of the business. Squadron Capital Management LLC bought a new position in Pasithea Therapeutics during the 4th quarter valued at about $2,709,000. Janus Henderson Group PLC bought a new stake in shares of Pasithea Therapeutics in the fourth quarter worth approximately $2,720,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Pasithea Therapeutics during the fourth quarter valued at approximately $2,709,000. Vivo Capital LLC purchased a new position in shares of Pasithea Therapeutics during the fourth quarter valued at approximately $2,709,000. Finally, Persistent Asset Partners Ltd bought a new position in Pasithea Therapeutics during the fourth quarter valued at approximately $375,000. 23.92% of the stock is currently owned by institutional investors.

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.