Cingulate (NASDAQ:CING) Announces Quarterly Earnings Results

by · The Cerbat Gem

Cingulate (NASDAQ:CING – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.42), FiscalAI reports.

Cingulate Trading Up 4.2%

Shares of NASDAQ:CING traded up $0.19 during trading on Friday, reaching $4.58. The company’s stock had a trading volume of 339,651 shares, compared to its average volume of 465,585. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46. Cingulate has a 12 month low of $3.20 and a 12 month high of $11.89. The firm’s 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $5.29. The stock has a market capitalization of $56.06 million, a PE ratio of -1.06 and a beta of -0.81.

Institutional Investors Weigh In On Cingulate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in shares of Cingulate in the 2nd quarter worth approximately $45,000. Bank of America Corp DE lifted its position in Cingulate by 283.1% in the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock worth $31,000 after buying an additional 5,543 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cingulate by 43.9% during the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after buying an additional 18,629 shares during the period. DRW Securities LLC purchased a new position in Cingulate during the fourth quarter worth $255,000. Finally, Kestra Advisory Services LLC increased its position in Cingulate by 29.8% during the fourth quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock valued at $529,000 after acquiring an additional 27,979 shares during the last quarter. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a research report on Monday, April 20th. Roth Mkm reduced their price objective on Cingulate from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Finally, Ascendiant Capital Markets decreased their price objective on Cingulate from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.50.

Read Our Latest Analysis on CING

About Cingulate

(Get Free Report)

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.

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