Pasithea Therapeutics (NASDAQ:KTTA) Releases Earnings Results, Hits Estimates

Pasithea Therapeutics (NASDAQ:KTTAGet Free Report) announced its quarterly earnings results on Friday. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16), FiscalAI reports.

Pasithea Therapeutics Price Performance

Shares of NASDAQ:KTTA traded up $0.00 on Friday, reaching $0.48. The company’s stock had a trading volume of 43,254 shares, compared to its average volume of 317,107. Pasithea Therapeutics has a 52-week low of $0.28 and a 52-week high of $2.06. The stock has a market capitalization of $16.05 million, a P/E ratio of -0.23 and a beta of 0.29. The stock’s 50-day moving average is $0.50 and its two-hundred day moving average is $0.67.

Hedge Funds Weigh In On Pasithea Therapeutics

Several institutional investors have recently added to or reduced their stakes in KTTA. Two Sigma Investments LP acquired a new stake in Pasithea Therapeutics during the 3rd quarter worth approximately $26,000. Citadel Advisors LLC raised its stake in shares of Pasithea Therapeutics by 43.7% during the third 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Pasithea Therapeutics by 113.9% during the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock worth $70,000 after purchasing an additional 29,020 shares during the period. Jane Street Group LLC grew its position in Pasithea Therapeutics by 137.0% in the 4th quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after buying an additional 34,319 shares during the last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in Pasithea Therapeutics in the 4th quarter valued at $375,000. Institutional investors and hedge funds own 23.92% of the company’s stock.

Wall Street Analysts Forecast Growth

KTTA has been the topic of a number of research analyst reports. Zacks Research upgraded Pasithea Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Wednesday, June 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Pasithea Therapeutics in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Pasithea Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $3.00.

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About Pasithea Therapeutics

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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.

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Earnings History for Pasithea Therapeutics (NASDAQ:KTTA)

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