Pasithea Therapeutics (NASDAQ:KTTA) Stock Price Down 1.3% – What’s Next?

Shares of Pasithea Therapeutics Corp. (NASDAQ:KTTA) fell 1.3% during trading on Thursday . The stock traded as low as $0.4267 and last traded at $0.4440. Approximately 572,243 shares changed hands during trading, an increase of 74% from the average session volume of 328,025 shares. The stock had previously closed at $0.45.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research raised shares of Pasithea Therapeutics from a “hold” rating to a “strong-buy” rating in a research note 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pasithea Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $3.00.

Pasithea Therapeutics Trading Up 3.6%

The company has a 50-day moving average price of $0.54 and a two-hundred day moving average price of $0.70. The stock has a market cap of $11.47 million, a P/E ratio of -0.22 and a beta of 0.29.

Pasithea Therapeutics (NASDAQ:KTTA) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.33. As a group, equities analysts forecast that Pasithea Therapeutics Corp. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pasithea Therapeutics

Several institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics during the 3rd quarter worth about $26,000. Citadel Advisors LLC lifted its stake in 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 purchasing an additional 20,483 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Pasithea Therapeutics in the first quarter worth about $69,000. Geode Capital Management LLC boosted its position in shares of Pasithea Therapeutics by 113.9% during the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after buying an additional 29,020 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Pasithea Therapeutics by 137.0% during the fourth quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after buying an additional 34,319 shares during the period. 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.