Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Update

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 183,118 shares, a drop of 30.8% from the January 29th total of 264,669 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 156,541 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 156,541 shares, the short-interest ratio is currently 1.2 days. Approximately 0.8% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms have weighed in on KTTA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Monday, December 29th. HC Wainwright initiated coverage on shares of Pasithea Therapeutics in a report on Monday, December 8th. They issued a “buy” rating and a $3.00 price target on the stock. Wall Street Zen upgraded Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Zacks Research raised Pasithea Therapeutics to a “hold” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

Pasithea Therapeutics Stock Performance

Shares of KTTA stock traded up $0.04 on Friday, reaching $0.88. The stock had a trading volume of 93,583 shares, compared to its average volume of 170,129. Pasithea Therapeutics has a 1 year low of $0.28 and a 1 year high of $3.79. The stock has a market cap of $20.36 million, a P/E ratio of -0.17 and a beta of 0.21. The company has a 50 day simple moving average of $0.92 and a 200 day simple moving average of $0.85.

Institutional Trading of Pasithea Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new position in Pasithea Therapeutics during the 4th quarter valued at approximately $2,720,000. Vivo Capital LLC purchased a new stake in Pasithea Therapeutics during the 4th quarter valued at $2,709,000. Squadron Capital Management LLC purchased a new position in Pasithea Therapeutics during the fourth quarter worth $2,709,000. Adage Capital Partners GP L.L.C. bought a new position in Pasithea Therapeutics during the fourth quarter valued at $2,709,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Pasithea Therapeutics in the fourth quarter valued at $375,000. Hedge funds and other 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.