Pasithea Therapeutics (NASDAQ:KTTA) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Pasithea Therapeutics (NASDAQ:KTTA) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a research note on Friday, March 27th. Zacks Research lowered shares of Pasithea Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen raised shares of Pasithea Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Pasithea Therapeutics currently has a consensus rating of “Reduce” and a consensus target price of $3.00.

Pasithea Therapeutics Trading Down 3.4%

Shares of KTTA opened at $0.72 on Monday. The firm’s 50-day moving average price is $0.78 and its 200-day moving average price is $0.85. The firm has a market capitalization of $17.89 million, a price-to-earnings ratio of -0.20 and a beta of 0.25. Pasithea Therapeutics has a 1-year low of $0.28 and a 1-year high of $3.79.

Pasithea Therapeutics (NASDAQ:KTTA) last announced its earnings results on Monday, March 30th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.71). On average, research analysts forecast that Pasithea Therapeutics will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Pasithea Therapeutics

Several hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new stake in Pasithea Therapeutics during the fourth quarter worth about $2,720,000. Vivo Capital LLC bought a new stake in Pasithea Therapeutics during the fourth quarter worth about $2,709,000. Squadron Capital Management LLC bought a new stake in Pasithea Therapeutics during the fourth quarter worth about $2,709,000. Adage Capital Partners GP L.L.C. bought a new stake in Pasithea Therapeutics during the fourth quarter worth about $2,709,000. Finally, AdvisorShares Investments LLC boosted its stake in Pasithea Therapeutics by 18.2% during the fourth quarter. AdvisorShares Investments LLC now owns 304,721 shares of the company’s stock worth $393,000 after acquiring an additional 47,025 shares in the last quarter. Institutional investors own 23.92% of the company’s stock.

About Pasithea Therapeutics

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.