Pasithea Therapeutics (NASDAQ:KTTA) Rating Lowered to Hold at Zacks Research

Pasithea Therapeutics (NASDAQ:KTTA) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

KTTA has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Pasithea Therapeutics in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pasithea Therapeutics currently has a consensus rating of “Hold” and an average price target of $3.00.

Pasithea Therapeutics Stock Performance

KTTA opened at $0.50 on Monday. Pasithea Therapeutics has a fifty-two week low of $0.28 and a fifty-two week high of $2.06. The company has a fifty day moving average of $0.50 and a two-hundred day moving average of $0.67. The stock has a market capitalization of $16.63 million, a price-to-earnings ratio of -0.31 and a beta of 0.29.

Pasithea Therapeutics (NASDAQ:KTTA) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). On average, equities research analysts forecast that Pasithea Therapeutics will post -0.76 earnings per share for the current year.

Institutional Trading of Pasithea Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squadron Capital Management LLC acquired a new position in shares of Pasithea Therapeutics during the 4th quarter worth about $2,709,000. Janus Henderson Group PLC acquired a new stake in Pasithea Therapeutics in the 4th quarter worth about $2,720,000. Adage Capital Partners GP L.L.C. purchased a new stake in Pasithea Therapeutics during the 4th quarter worth approximately $2,709,000. Persistent Asset Partners Ltd purchased a new stake in Pasithea Therapeutics during the 4th quarter worth approximately $375,000. Finally, Vivo Capital LLC purchased a new stake in Pasithea Therapeutics during the 4th quarter worth approximately $2,709,000. 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.