Pasithea Therapeutics (NASDAQ:KTTA) Posts Earnings Results, Hits Expectations

Pasithea Therapeutics (NASDAQ:KTTA) announced its quarterly earnings data on Friday. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16), FiscalAI reports.

Pasithea Therapeutics Trading Up 0.5%

Shares of KTTA traded up $0.00 during midday trading on Friday, reaching $0.48. The stock had a trading volume of 43,254 shares, compared to its average volume of 519,733. The firm has a market cap of $16.05 million, a PE ratio of -0.23 and a beta of 0.29. The firm has a 50 day simple moving average of $0.51 and a 200-day simple moving average of $0.67. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $2.06.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP acquired a new position in Pasithea Therapeutics during the third quarter worth approximately $26,000. Citadel Advisors LLC lifted its position 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 buying an additional 20,483 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Pasithea Therapeutics by 113.9% during the 4th quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock worth $70,000 after acquiring an additional 29,020 shares during the period. Jane Street Group LLC boosted its stake in shares of Pasithea Therapeutics by 137.0% during the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock worth $77,000 after acquiring an additional 34,319 shares during the period. Finally, Vivo Capital LLC acquired a new position in shares of Pasithea Therapeutics during the 4th quarter worth approximately $2,709,000. 23.92% of the stock is currently owned by institutional investors and hedge funds.

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.