Pasithea Therapeutics Corp. (NASDAQ:KTTA – Get Rating) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 209,800 shares, an increase of 10.8% from the November 15th total of 189,300 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 109,200 shares, the short-interest ratio is currently 1.9 days.
Insider Activity at Pasithea Therapeutics
In other news, major shareholder Eric Shahinian purchased 57,647 shares of the company's stock in a transaction that occurred on Wednesday, September 28th. The stock was bought at an average cost of $1.19 per share, with a total value of $68,599.93. Following the completion of the purchase, the insider now owns 1,781,705 shares in the company, valued at $2,120,228.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by corporate insiders.
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Institutional Investors Weigh In On Pasithea Therapeutics
A hedge fund recently raised its stake in Pasithea Therapeutics stock. Vanguard Group Inc. grew its stake in Pasithea Therapeutics Corp. (NASDAQ:KTTA – Get Rating) by 104.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,844 shares of the company's stock after purchasing an additional 81,705 shares during the period. Vanguard Group Inc. owned approximately 0.60% of Pasithea Therapeutics worth $201,000 at the end of the most recent reporting period. Institutional investors own 20.64% of the company's stock.
Pasithea Therapeutics Price Performance
Pasithea Therapeutics stock traded down $0.04 during midday trading on Friday, reaching $0.79. 37,437 shares of the stock traded hands, compared to its average volume of 397,328. The stock's fifty day moving average is $1.05 and its 200-day moving average is $1.10. Pasithea Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.38.
About Pasithea Therapeutics
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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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