Cingulate (NASDAQ:CING) Stock Rating Upgraded by Wall Street Zen

Cingulate (NASDAQ:CING) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Cingulate in a research report on Tuesday, May 26th. Weiss Ratings upgraded Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. Ascendiant Capital Markets cut their price target on Cingulate from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Roth Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of Cingulate in a research report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

Cingulate Stock Performance

Shares of NASDAQ CING opened at $5.09 on Friday. Cingulate has a 1-year low of $3.16 and a 1-year high of $11.89. The company has a 50-day moving average of $4.92 and a two-hundred day moving average of $5.60. The company has a market cap of $74.01 million, a PE ratio of -1.42 and a beta of -0.90.

Cingulate (NASDAQ:CING) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.18. As a group, equities research analysts forecast that Cingulate will post -2.4 earnings per share for the current year.

Institutional Trading of Cingulate

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in shares of Cingulate by 283.1% during the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after acquiring an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Cingulate in the 4th quarter worth $43,000. XTX Topco Ltd acquired a new stake in shares of Cingulate during the second quarter worth $45,000. Quadrature Capital Ltd acquired a new stake in shares of Cingulate during the fourth quarter worth $66,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Cingulate during the first quarter worth $116,000. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.