Pasithea Therapeutics Corp. (NASDAQ:KTTA) Sees Large Increase in Short Interest

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 559,624 shares, a growth of 23.8% from the December 15th total of 452,180 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 403,767 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 403,767 shares, the short-interest ratio is currently 1.4 days. Approximately 2.5% of the shares of the company are sold short.

Pasithea Therapeutics Stock Performance

KTTA stock traded up $0.04 during midday trading on Monday, hitting $0.93. 86,434 shares of the stock were exchanged, compared to its average volume of 258,043. The stock’s 50-day moving average price is $0.98 and its 200-day moving average price is $0.83. The stock has a market cap of $21.37 million, a price-to-earnings ratio of -0.18 and a beta of 0.22. Pasithea Therapeutics has a fifty-two week low of $0.28 and a fifty-two week high of $3.85.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Zacks Research raised Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. HC Wainwright initiated coverage on Pasithea Therapeutics in a report on Monday, December 8th. They set a “buy” rating and a $3.00 price objective on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Insider Buying and Selling

In other Pasithea Therapeutics news, Director Lawrence Steinman acquired 133,333 shares of the stock in a transaction on Friday, November 28th. The shares were bought at an average price of $0.75 per share, with a total value of $99,999.75. Following the acquisition, the director owned 199,691 shares of the company’s stock, valued at $149,768.25. This trade represents a 200.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 199,999 shares of company stock valued at $149,999 in the last three months. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pasithea Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KTTA. Citadel Advisors LLC lifted its holdings in shares of 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 in the last quarter. Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics during the 3rd quarter worth approximately $26,000. Finally, AdvisorShares Investments LLC raised its position in shares of Pasithea Therapeutics by 33.1% during the 3rd quarter. AdvisorShares Investments LLC now owns 257,696 shares of the company’s stock worth $186,000 after purchasing an additional 64,149 shares during the last quarter. Institutional investors and hedge funds 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.