Pasithea Therapeutics (NASDAQ:KTTA) Shares Up 2.5% – Here’s Why

Pasithea Therapeutics Corp. (NASDAQ:KTTA)’s stock price shot up 2.5% during mid-day trading on Thursday . The company traded as high as $0.81 and last traded at $0.79. 78,770 shares were traded during trading, a decline of 26% from the average session volume of 105,962 shares. The stock had previously closed at $0.77.

Pasithea Therapeutics Price Performance

The business has a fifty day moving average of $0.74 and a 200-day moving average of $0.93. The stock has a market capitalization of $5.87 million, a price-to-earnings ratio of -0.10 and a beta of 0.27.

Pasithea Therapeutics (NASDAQ:KTTA) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.66) earnings per share for the quarter.

Hedge Funds Weigh In On Pasithea Therapeutics

A hedge fund recently raised its stake in Pasithea Therapeutics stock. AdvisorShares Investments LLC raised its holdings in shares of Pasithea Therapeutics Corp. (NASDAQ:KTTA) by 261.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,547 shares of the company’s stock after acquiring an additional 140,000 shares during the quarter. AdvisorShares Investments LLC owned approximately 2.60% of Pasithea Therapeutics worth $140,000 at the end of the most recent quarter. Institutional investors own 23.92% of the company’s stock.

About Pasithea Therapeutics

Pasithea Therapeutics Corp., a biotechnology company, engages in discovery, research, and development of treatments for central nervous system disorders, RASopathies, and other diseases. Its lead product candidate PAS-004, a next-generation macrocyclic mitogen-activated protein kinase, or MEK inhibitor for use in the treatment of a range of RASopathies, including neurofibromatosis type 1 oncology indications.