Pasithea Therapeutics (NASDAQ:KTTA) Posts Quarterly Earnings Results

Pasithea Therapeutics (NASDAQ:KTTA) issued its quarterly earnings data on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16), FiscalAI reports.

Pasithea Therapeutics Stock Up 0.5%

Shares of NASDAQ KTTA traded up $0.00 during mid-day trading on Friday, hitting $0.48. 43,254 shares of the company were exchanged, compared to its average volume of 519,733. The stock has a 50 day simple moving average of $0.51 and a 200-day simple moving average of $0.67. Pasithea Therapeutics has a 1-year low of $0.28 and a 1-year high of $2.06. The firm has a market cap of $16.05 million, a price-to-earnings ratio of -0.23 and a beta of 0.29.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KTTA. Zacks Research raised Pasithea Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Pasithea Therapeutics in a research report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.00.

Hedge Funds Weigh In On Pasithea Therapeutics

Large investors have recently bought and sold shares of the company. Squadron Capital Management LLC acquired a new stake in shares of Pasithea Therapeutics in the 4th quarter worth $2,709,000. Janus Henderson Group PLC acquired a new position in shares of Pasithea Therapeutics during the fourth quarter worth about $2,720,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Pasithea Therapeutics during the fourth quarter worth about $2,709,000. Persistent Asset Partners Ltd purchased a new position in Pasithea Therapeutics during the fourth quarter worth about $375,000. Finally, Vivo Capital LLC purchased a new position in Pasithea Therapeutics during the fourth quarter worth about $2,709,000. 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.