Pasithea Therapeutics (NASDAQ:KTTA) Announces Quarterly Earnings Results

Pasithea Therapeutics (NASDAQ:KTTA) announced its quarterly earnings results on Friday. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16), FiscalAI reports.

Pasithea Therapeutics Price Performance

Shares of KTTA opened at $0.48 on Friday. The company has a market capitalization of $16.06 million, a P/E ratio of -0.30 and a beta of 0.29. The business’s 50 day simple moving average is $0.50 and its 200-day simple moving average is $0.67. Pasithea Therapeutics has a one year low of $0.28 and a one year high of $2.06.

Institutional Trading of Pasithea Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in KTTA. Janus Henderson Group PLC bought a new position in Pasithea Therapeutics in the fourth quarter valued at approximately $2,720,000. Vivo Capital LLC acquired a new position in shares of Pasithea Therapeutics in the 4th quarter valued at $2,709,000. Squadron Capital Management LLC acquired a new position in Pasithea Therapeutics in the fourth quarter valued at about $2,709,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Pasithea Therapeutics during the 4th quarter valued at about $2,709,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Pasithea Therapeutics during the 4th quarter worth approximately $375,000. 23.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KTTA shares. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Pasithea Therapeutics in a research report on Tuesday, June 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Wednesday, June 24th. Finally, Zacks Research raised Pasithea Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” 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.