Pasithea Therapeutics Corp. (NASDAQ:KTTA) Short Interest Down 17.5% in May

Pasithea Therapeutics Corp. (NASDAQ:KTTAGet Rating) was the target of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 93,700 shares, a decrease of 17.5% from the May 15th total of 113,600 shares. Based on an average daily volume of 211,800 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.7% of the shares of the company are short sold.

Several institutional investors have recently added to or reduced their stakes in KTTA. K2 Principal Fund L.P. purchased a new position in Pasithea Therapeutics in the fourth quarter worth $973,000. Vanguard Group Inc. raised its position in Pasithea Therapeutics by 345.5% in the first quarter. Vanguard Group Inc. now owns 56,583 shares of the company’s stock worth $74,000 after acquiring an additional 43,883 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Pasithea Therapeutics in the first quarter worth $62,000. Finally, Two Sigma Securities LLC purchased a new position in Pasithea Therapeutics in the third quarter worth $32,000. Institutional investors and hedge funds own 12.01% of the company’s stock.

Shares of Pasithea Therapeutics stock traded up $0.04 during trading hours on Thursday, hitting $1.05. 667 shares of the company were exchanged, compared to its average volume of 499,563. Pasithea Therapeutics has a 1 year low of $0.81 and a 1 year high of $8.50. The business has a 50-day moving average of $1.06 and a 200-day moving average of $1.37.

Pasithea Therapeutics Company Profile (Get Rating)

Pasithea Therapeutics Corp., a biotechnology company, engages in research and discovery of treatments for psychiatric and neurological disorders. It also intends to operate anti-depression clinics and provide business support services using trained pharmacists to administer intravenous infusions of ketamine.

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