Pasithea Therapeutics (NASDAQ:KTTA) Posts Earnings Results

Pasithea Therapeutics (NASDAQ:KTTA) posted its earnings results on Monday. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.71), FiscalAI reports.

Pasithea Therapeutics Trading Down 13.6%

Shares of NASDAQ:KTTA traded down $0.10 during trading on Wednesday, reaching $0.64. The stock had a trading volume of 3,594,413 shares, compared to its average volume of 211,492. The firm’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.85. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $3.79. The company has a market capitalization of $14.80 million, a P/E ratio of -0.18 and a beta of 0.20.

Institutional Investors Weigh In On Pasithea Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP purchased a new position in Pasithea Therapeutics in the 3rd quarter worth $26,000. Citadel Advisors LLC grew its stake in 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 purchasing an additional 20,483 shares during the last quarter. Geode Capital Management LLC grew its stake in Pasithea Therapeutics by 113.9% during 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. Jane Street Group LLC increased its holdings in shares of Pasithea Therapeutics by 137.0% in the fourth 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 period. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Pasithea Therapeutics in the fourth quarter valued at about $375,000. 23.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KTTA. Wall Street Zen upgraded Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. HC Wainwright assumed coverage on Pasithea Therapeutics in a report on Monday, December 8th. They issued a “buy” rating and a $3.00 price target on the stock. Zacks Research raised Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pasithea Therapeutics has a consensus rating of “Hold” and a consensus target price of $3.00.

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.