Cingulate Inc. (NASDAQ:CING) Short Interest Update
by Renee Jackson · The Cerbat GemCingulate Inc. (NASDAQ:CING – Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 1,420,957 shares, a growth of 31.7% from the March 31st total of 1,078,595 shares. Based on an average trading volume of 385,913 shares, the days-to-cover ratio is presently 3.7 days. Currently, 12.1% of the shares of the stock are sold short.
Insider Buying and Selling at Cingulate
In related news, CEO Shane J. Schaffer acquired 6,809 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were acquired at an average cost of $5.04 per share, with a total value of $34,317.36. Following the completion of the acquisition, the chief executive officer directly owned 10,175 shares in the company, valued at approximately $51,282. This trade represents a 202.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter J. Werth bought 19,455 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the transaction, the director owned 117,449 shares of the company’s stock, valued at approximately $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 33,074 shares of company stock valued at $166,693. 4.33% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CING. XTX Topco Ltd acquired a new position in shares of Cingulate during the 2nd quarter worth approximately $45,000. Bank of America Corp DE increased its holdings in shares of Cingulate by 283.1% in 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 during the last quarter. Quantum Private Wealth LLC lifted its position in Cingulate by 140.0% during the third quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after buying an additional 14,000 shares in the last quarter. Soltis Investment Advisors LLC purchased a new position in Cingulate during the fourth quarter worth approximately $43,000. Finally, 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 last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.
Cingulate Price Performance
CING traded up $0.42 on Thursday, hitting $5.13. 466,761 shares of the company’s stock were exchanged, compared to its average volume of 469,742. Cingulate has a fifty-two week low of $3.20 and a fifty-two week high of $11.89. The stock has a market cap of $62.84 million, a price-to-earnings ratio of -1.19 and a beta of -0.76. The firm has a 50-day moving average price of $6.51 and a 200-day moving average price of $5.21. 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 (NASDAQ:CING – Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.28). As a group, equities analysts anticipate that Cingulate will post -1.88 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a research note on Monday, April 20th. Roth Mkm cut their price objective on Cingulate from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Ascendiant Capital Markets decreased their target price on Cingulate from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.50.
View Our Latest Report on Cingulate
Cingulate Company Profile
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.