Pasithea Therapeutics (NASDAQ:KTTA) Upgraded to Sell at Wall Street Zen
by Amy Steele · The Cerbat GemWall Street Zen upgraded shares of Pasithea Therapeutics (NASDAQ:KTTA – Free Report) to a sell rating in a research note released on Saturday morning.
A number of other equities research analysts also recently commented on KTTA. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research report on Monday, December 29th. Zacks Research raised Pasithea Therapeutics to a “hold” rating in a research note on Tuesday, December 9th. Finally, HC Wainwright started coverage on Pasithea Therapeutics in a report on Monday, December 8th. They issued a “buy” rating and a $3.00 price target for the company. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pasithea Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $3.00.
Read Our Latest Stock Report on Pasithea Therapeutics
Pasithea Therapeutics Price Performance
NASDAQ:KTTA opened at $0.93 on Friday. The firm has a market cap of $21.50 million, a price-to-earnings ratio of -0.18 and a beta of 0.22. The firm’s fifty day moving average price is $0.97 and its 200 day moving average price is $0.82. Pasithea Therapeutics has a 1-year low of $0.28 and a 1-year high of $3.85.
Pasithea Therapeutics (NASDAQ:KTTA – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.41) EPS for the quarter.
Insider Transactions at Pasithea Therapeutics
In related news, Director Lawrence Steinman purchased 133,333 shares of Pasithea Therapeutics stock in a transaction dated Friday, November 28th. The stock was bought at an average cost of $0.75 per share, for a total transaction of $99,999.75. Following the transaction, the director owned 199,691 shares in the company, valued at approximately $149,768.25. The trade was a 200.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought 199,999 shares of company stock valued at $149,999 over the last three months. Company insiders own 2.00% of the company’s stock.
Institutional Investors Weigh In On Pasithea Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of KTTA. AdvisorShares Investments LLC raised its holdings in Pasithea Therapeutics by 261.5% during the second quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock worth $140,000 after purchasing an additional 140,000 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Pasithea Therapeutics by 43.7% in the third quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock valued at $48,000 after buying an additional 20,483 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics in the third quarter valued at $26,000. Institutional investors and hedge funds own 23.92% of the company’s stock.
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.