Cingulate Inc. (NASDAQ:CING) Short Interest Down 16.5% in January
by Scott Moore · The Cerbat GemCingulate Inc. (NASDAQ:CING – Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 270,806 shares, a decline of 16.5% from the December 31st total of 324,295 shares. Based on an average trading volume of 265,616 shares, the short-interest ratio is presently 1.0 days. Currently, 3.8% of the shares of the company are short sold. Currently, 3.8% of the shares of the company are short sold. Based on an average trading volume of 265,616 shares, the short-interest ratio is presently 1.0 days.
Institutional Trading of Cingulate
Several hedge funds have recently bought and sold shares of CING. Bank of America Corp DE grew its position in shares of Cingulate by 283.1% during the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after purchasing an additional 5,543 shares in the last quarter. XTX Topco Ltd bought a new position in Cingulate during the second quarter valued at approximately $45,000. Finally, Quantum Private Wealth LLC grew its holdings in Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after buying an additional 14,000 shares in the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.
Cingulate Stock Up 1.8%
CING stock traded up $0.11 during midday trading on Tuesday, hitting $6.22. The company’s stock had a trading volume of 239,647 shares, compared to its average volume of 323,839. Cingulate has a 12 month low of $3.20 and a 12 month high of $6.74. The company has a 50 day moving average of $4.55 and a two-hundred day moving average of $4.24. The firm has a market capitalization of $46.35 million, a price-to-earnings ratio of -1.72 and a beta of -0.75.
Cingulate (NASDAQ:CING – Get Free Report) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.55). On average, analysts anticipate that Cingulate will post -11.69 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
CING has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Roth Mkm decreased their price objective on Cingulate from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Finally, Ascendiant Capital Markets decreased their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cingulate has a consensus rating of “Moderate Buy” and an average price target of $31.33.
Get Our Latest Research Report on Cingulate
About Cingulate
Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.