Pasithea Therapeutics (NASDAQ:KTTA) Upgraded at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of Pasithea Therapeutics (NASDAQ:KTTA – Free Report) from a sell rating to a hold rating in a report issued on Sunday.
Several other analysts have also recently commented on KTTA. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Monday, December 29th. HC Wainwright initiated coverage on shares of Pasithea Therapeutics in a report on Monday, December 8th. They set a “buy” rating and a $3.00 target price for the company. Finally, Zacks Research raised shares of Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.00.
Check Out Our Latest Analysis on Pasithea Therapeutics
Pasithea Therapeutics Trading Up 0.2%
NASDAQ:KTTA opened at $0.93 on Friday. The firm has a fifty day simple moving average of $0.99 and a 200-day simple moving average of $0.83. The company has a market capitalization of $21.41 million, a P/E ratio of -0.18 and a beta of 0.22. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $3.85.
Pasithea Therapeutics (NASDAQ:KTTA – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.41) earnings per share for the quarter.
Insider Activity
In related news, Director Lawrence Steinman bought 133,333 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was acquired at an average price of $0.75 per share, with a total value of $99,999.75. Following the completion of the purchase, the director directly owned 199,691 shares of the company’s stock, valued at approximately $149,768.25. This trade represents a 200.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 199,999 shares of company stock valued at $149,999 in the last quarter. 2.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new stake in Pasithea Therapeutics in the 3rd quarter worth about $26,000. Citadel Advisors LLC boosted its stake 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 worth $48,000 after acquiring an additional 20,483 shares during the last quarter. Finally, AdvisorShares Investments LLC boosted its stake in shares of Pasithea Therapeutics by 261.5% in the second quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock worth $140,000 after acquiring an additional 140,000 shares during the last quarter. 23.92% of the stock is owned by hedge funds and other 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.