Pasithea Therapeutics (NASDAQ:KTTA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Pasithea Therapeutics (NASDAQ:KTTA) announced its quarterly earnings results on Friday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01, FiscalAI reports.

Pasithea Therapeutics Stock Up 0.4%

KTTA traded up $0.00 during midday trading on Friday, hitting $0.52. 2,355,348 shares of the company traded hands, compared to its average volume of 1,594,123. The company’s 50-day moving average is $0.48 and its 200 day moving average is $0.61. The firm has a market capitalization of $17.44 million, a PE ratio of -0.33 and a beta of 0.39. Pasithea Therapeutics has a 52 week low of $0.28 and a 52 week high of $2.06.

Wall Street Analyst Weigh In

A number of analysts have weighed in on KTTA shares. Zacks Research lowered shares of Pasithea Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, September 21st. One research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Pasithea Therapeutics Company Profile

Pasithea Therapeutics is a clinical-stage biotechnology company developing therapies for serious diseases. Its current focus is PAS-004, a next-generation macrocyclic MEK inhibitor being studied for conditions associated with the RAS/MAPK signaling pathway, including neurofibromatosis type 1. The company’s research has shifted over time: Pasithea previously focused on treatments for neurological and psychiatric disorders. Its current development efforts are centered on PAS-004 and potential applications in diseases with limited treatment options.