Short Interest in Pasithea Therapeutics Corp. (NASDAQ:KTTA) Drops By 88.3%

Pasithea Therapeutics Corp. (NASDAQ:KTTA) saw a large decline in short interest in 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. Based on an average daily volume of 1,987,890 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.1% of the company’s stock are short sold. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 1,987,890 shares, the days-to-cover ratio is currently 0.2 days.

Pasithea Therapeutics Trading Down 4.3%

Pasithea Therapeutics stock traded down $0.05 on Friday, reaching $1.12. 145,139 shares of the stock were exchanged, compared to its average volume of 3,664,384. Pasithea Therapeutics has a twelve month low of $0.28 and a twelve month high of $3.85. The firm has a fifty day moving average price of $0.89 and a two-hundred day moving average price of $0.79. The stock has a market cap of $25.09 million, a PE ratio of -0.22 and a beta of 0.21.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KTTA. HC Wainwright started coverage on Pasithea Therapeutics in a research note on Monday, December 8th. They set a “buy” rating and a $3.00 price target for the company. Zacks Research raised shares of Pasithea Therapeutics to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pasithea Therapeutics presently has a consensus rating of “Hold” and an average target price of $3.00.

Insider Activity at Pasithea Therapeutics

In other Pasithea Therapeutics news, Director Lawrence Steinman purchased 133,333 shares of the stock in a transaction dated Friday, November 28th. The shares were acquired at an average price of $0.75 per share, for a total transaction of $99,999.75. Following the completion of the acquisition, the director owned 199,691 shares of the company’s stock, valued at $149,768.25. This represents a 200.93% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 199,999 shares of company stock valued at $149,999 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds have recently modified their holdings of KTTA. AdvisorShares Investments LLC raised its stake 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 purchasing an additional 140,000 shares during the last quarter. Citadel Advisors LLC increased its holdings 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 period. Finally, Two Sigma Investments LP acquired a new position in shares of Pasithea Therapeutics during the third 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.