Short Interest in Pasithea Therapeutics Corp. (NASDAQ:KTTA) Drops By 27.8%

Pasithea Therapeutics Corp. (NASDAQ:KTTA) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 264,669 shares, a drop of 27.8% from the January 15th total of 366,534 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 121,258 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 121,258 shares, the short-interest ratio is presently 2.2 days. Currently, 1.2% of the company’s shares are sold short.

Insider Transactions at Pasithea Therapeutics

In other Pasithea Therapeutics news, Director Lawrence Steinman bought 133,333 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were purchased at an average price 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 $149,768.25. This represents a 200.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 199,999 shares of company stock valued at $149,999 over the last ninety days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pasithea Therapeutics

A number of large investors have recently bought and sold shares of KTTA. AdvisorShares Investments LLC boosted its position in Pasithea Therapeutics by 261.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock valued at $140,000 after acquiring an additional 140,000 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Pasithea Therapeutics during the 3rd quarter worth $26,000. Citadel Advisors LLC lifted its stake in shares of Pasithea Therapeutics by 43.7% during 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 during the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 29,020 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Pasithea Therapeutics by 137.0% in the fourth quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after purchasing an additional 34,319 shares during the last quarter. Institutional investors own 23.92% of the company’s stock.

Pasithea Therapeutics Stock Up 1.4%

Shares of KTTA stock traded up $0.01 on Monday, hitting $0.71. The stock had a trading volume of 39,633 shares, compared to its average volume of 141,343. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $3.79. The business has a 50 day moving average price of $0.98 and a 200 day moving average price of $0.84. The company has a market cap of $16.40 million, a PE ratio of -0.14 and a beta of 0.21.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on KTTA. HC Wainwright started coverage on Pasithea Therapeutics in a research report on Monday, December 8th. They issued a “buy” rating and a $3.00 price objective on the stock. Wall Street Zen raised shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Zacks Research raised shares of Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.00.

About Pasithea Therapeutics

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.