Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Down 88.3% in December

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 452,180 shares, a decline of 88.3% from the November 30th total of 3,857,828 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 1,987,890 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 1,987,890 shares, the short-interest ratio is presently 0.2 days. Approximately 2.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

KTTA has been the topic of several recent research reports. HC Wainwright assumed coverage on Pasithea Therapeutics in a report on Monday, December 8th. They set a “buy” rating and a $3.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Monday. Finally, Zacks Research raised Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

Pasithea Therapeutics Stock Down 0.9%

KTTA traded down $0.01 during trading on Wednesday, reaching $1.15. 140,504 shares of the stock traded hands, compared to its average volume of 17,546,554. The stock’s 50-day moving average is $0.88 and its 200 day moving average is $0.79. Pasithea Therapeutics has a 12 month low of $0.28 and a 12 month high of $3.85. The stock has a market capitalization of $25.76 million, a PE ratio of -0.23 and a beta of 0.21.

Pasithea Therapeutics (NASDAQ:KTTA) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.41) earnings per share (EPS) for the quarter.

Insider Transactions at Pasithea Therapeutics

In other news, Director Lawrence Steinman bought 133,333 shares of the stock in a transaction on 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 acquisition, the director directly owned 199,691 shares in the company, valued at approximately $149,768.25. This trade represents a 200.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 199,999 shares of company stock valued at $149,999. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of KTTA. AdvisorShares Investments LLC raised its holdings in shares of Pasithea Therapeutics by 33.1% during the third quarter. AdvisorShares Investments LLC now owns 257,696 shares of the company’s stock valued at $186,000 after purchasing an additional 64,149 shares during the period. Citadel Advisors LLC grew its stake in shares of Pasithea Therapeutics by 43.7% in the 3rd 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 period. Finally, Two Sigma Investments LP bought a new stake in Pasithea Therapeutics in the 3rd quarter valued at about $26,000. 23.92% of the stock is owned by institutional investors.

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.