Pasithea Therapeutics (NASDAQ:KTTA) Releases Earnings Results, Beats Estimates By $0.33 EPS

Pasithea Therapeutics (NASDAQ:KTTA) announced its quarterly earnings results on Friday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.33, FiscalAI reports.

Pasithea Therapeutics Stock Performance

NASDAQ KTTA opened at $0.78 on Friday. The firm has a market cap of $19.46 million, a PE ratio of -0.38 and a beta of 0.22. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $2.06. The firm’s fifty day moving average is $0.77 and its two-hundred day moving average is $0.85.

Hedge Funds Weigh In On Pasithea Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new position in Pasithea Therapeutics in the 4th quarter valued at about $2,720,000. Vivo Capital LLC purchased a new position in shares of Pasithea Therapeutics in the 4th quarter valued at approximately $2,709,000. Squadron Capital Management LLC purchased a new position in shares of Pasithea Therapeutics in the 4th quarter valued at approximately $2,709,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Pasithea Therapeutics in the fourth quarter valued at approximately $2,709,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Pasithea Therapeutics in the fourth quarter valued at approximately $375,000. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Analyst Ratings Changes

KTTA has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Friday, March 27th. Wall Street Zen raised Pasithea Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Zacks Research cut Pasithea Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Finally, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Pasithea Therapeutics in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Pasithea Therapeutics presently has an average rating of “Reduce” and a consensus price target of $3.00.

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.