Pasithea Therapeutics (NASDAQ:KTTA) Shares Down 29.6% – Should You Sell?

Pasithea Therapeutics Corp. (NASDAQ:KTTA)’s stock price was down 29.6% during trading on Friday . The stock traded as low as $0.2810 and last traded at $0.2923. Approximately 3,259,556 shares were traded during mid-day trading, an increase of 821% from the average daily volume of 354,081 shares. The stock had previously closed at $0.4151.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pasithea Therapeutics in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Pasithea Therapeutics Trading Down 29.6%

The company has a market cap of $2.17 million, a P/E ratio of -0.06 and a beta of 0.29. The business’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.77.

Pasithea Therapeutics (NASDAQ:KTTA) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.41) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Pasithea Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of KTTA. Two Sigma Investments LP purchased a new position in shares of Pasithea Therapeutics in the third quarter valued at about $26,000. Citadel Advisors LLC grew its position 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 in the last quarter. Finally, AdvisorShares Investments LLC raised its stake in Pasithea Therapeutics by 261.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 193,547 shares of the company’s stock valued at $140,000 after purchasing an additional 140,000 shares during the period. 23.92% of the stock is owned by institutional investors.

Pasithea Therapeutics Company Profile

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.