Opaleye Management Inc. Invests $1.06 Million in Pasithea Therapeutics Corp. $KTTA

Opaleye Management Inc. purchased a new stake in shares of Pasithea Therapeutics Corp. (NASDAQ:KTTA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,050,000 shares of the company’s stock, valued at approximately $1,057,000. Opaleye Management Inc. owned approximately 6.14% of Pasithea Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of KTTA. Renaissance Technologies LLC bought a new position in Pasithea Therapeutics in the 1st quarter worth about $69,000. AdvisorShares Investments LLC increased its stake in Pasithea Therapeutics by 10.8% during the 1st quarter. AdvisorShares Investments LLC now owns 337,508 shares of the company’s stock valued at $250,000 after purchasing an additional 32,787 shares in the last quarter. Squadron Capital Management LLC bought a new stake in Pasithea Therapeutics during the 4th quarter valued at about $2,709,000. Janus Henderson Group PLC purchased a new position in Pasithea Therapeutics in the fourth quarter worth about $2,720,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Pasithea Therapeutics in the fourth quarter worth about $2,709,000. Hedge funds and other institutional investors own 23.92% of the company’s stock.

Pasithea Therapeutics Stock Performance

Pasithea Therapeutics stock opened at $0.54 on Friday. The stock has a market cap of $18.04 million, a PE ratio of -0.34 and a beta of 0.33. Pasithea Therapeutics Corp. has a one year low of $0.28 and a one year high of $2.06. The stock has a fifty day moving average of $0.50 and a 200 day moving average of $0.64.

Pasithea Therapeutics (NASDAQ:KTTA) last announced its earnings results on Friday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). As a group, sell-side analysts predict that Pasithea Therapeutics Corp. will post -0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KTTA. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Pasithea Therapeutics in a report on Tuesday, June 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Wednesday, June 24th. Finally, Zacks Research downgraded Pasithea Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pasithea Therapeutics has an average rating of “Hold” and a consensus price target 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.