Pasithea Therapeutics (NASDAQ:KTTA) Now Covered by HC Wainwright

HC Wainwright began coverage on shares of Pasithea Therapeutics (NASDAQ:KTTA) in a research note released on Monday, MarketBeat reports. The firm issued a buy rating and a $3.00 target price on the stock.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Monday, December 1st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.00.

Pasithea Therapeutics Stock Performance

NASDAQ KTTA opened at $1.13 on Monday. The stock has a market capitalization of $8.41 million, a price-to-earnings ratio of -0.22 and a beta of 0.20. The stock has a 50-day moving average of $0.79 and a 200 day moving average of $0.77. Pasithea Therapeutics has a twelve month low of $0.28 and a twelve month high of $3.85.

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

Insider Activity at Pasithea Therapeutics

In other Pasithea Therapeutics news, Director Lawrence Steinman purchased 133,333 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were purchased at an average cost of $0.75 per share, with a total value of $99,999.75. Following the completion of the purchase, the director owned 199,691 shares in the company, valued at approximately $149,768.25. This represents a 200.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 199,999 shares of company stock valued at $149,999 in the last ninety days. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Pasithea Therapeutics

A number of hedge funds have recently bought and sold shares of KTTA. Citadel Advisors LLC lifted its stake in Pasithea Therapeutics by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock worth $48,000 after purchasing an additional 20,483 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Pasithea Therapeutics in the third quarter valued at approximately $26,000. Finally, AdvisorShares Investments LLC increased its holdings in shares of Pasithea Therapeutics by 33.1% in 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 last quarter. Institutional investors and hedge funds own 23.92% of the company’s stock.

Pasithea Therapeutics Company Profile

Pasithea Therapeutics Corp., a biotechnology company, engages in discovery, research, and development of treatments for central nervous system disorders, RASopathies, and other diseases. Its lead product candidate PAS-004, a next-generation macrocyclic mitogen-activated protein kinase, or MEK inhibitor for use in the treatment of a range of RASopathies, including neurofibromatosis type 1 oncology indications.