Pasithea Therapeutics (NASDAQ:KTTA) Issues Quarterly Earnings Results

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

Pasithea Therapeutics Price Performance

NASDAQ:KTTA traded down $0.01 during trading hours on Friday, hitting $0.78. The stock had a trading volume of 549,445 shares, compared to its average volume of 404,809. The company has a 50 day simple moving average of $0.77 and a two-hundred day simple moving average of $0.85. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $2.06. The firm has a market capitalization of $19.46 million, a price-to-earnings ratio of -0.22 and a beta of 0.22.

Institutional Trading of Pasithea Therapeutics

A number of hedge funds have recently made changes to their positions in KTTA. Janus Henderson Group PLC bought a new stake in shares of Pasithea Therapeutics during the 4th quarter worth $2,720,000. Vivo Capital LLC bought a new stake in shares of Pasithea Therapeutics during the 4th quarter worth $2,709,000. Squadron Capital Management LLC bought a new stake in shares of Pasithea Therapeutics during the 4th quarter worth $2,709,000. Adage Capital Partners GP L.L.C. purchased a new position in Pasithea Therapeutics in the 4th quarter worth $2,709,000. Finally, Persistent Asset Partners Ltd purchased a new position in Pasithea Therapeutics in the 4th quarter worth $375,000. 23.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on KTTA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday, March 27th. Zacks Research downgraded shares of Pasithea Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, April 2nd. Wall Street Zen raised shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Pasithea Therapeutics in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Pasithea Therapeutics presently has a consensus 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.