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

Wall Street Zen upgraded shares of Cingulate (NASDAQ:CING) from a sell rating to a hold rating in a report published on Saturday.

Several other equities analysts have also recently issued reports on the company. Ascendiant Capital Markets decreased their price objective on Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Roth Capital set a $9.00 price objective on Cingulate and gave the company a “buy” rating in a report on Sunday, August 23rd. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Cingulate in a research note on Tuesday, May 26th. Finally, Weiss Ratings cut Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Cingulate Trading Down 2.2%

Cingulate stock opened at $5.32 on Friday. Cingulate has a twelve month low of $3.16 and a twelve month high of $11.89. The stock’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $5.54. The firm has a market capitalization of $77.35 million, a P/E ratio of -1.48 and a beta of -0.90.

Cingulate (NASDAQ:CING) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.18. Sell-side analysts predict that Cingulate will post -2.31 earnings per share for the current year.

Institutional Investors Weigh In On Cingulate

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings 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 worth $31,000 after buying an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in Cingulate during the 4th quarter worth approximately $43,000. XTX Topco Ltd acquired a new stake in Cingulate during the 2nd quarter worth approximately $45,000. Quadrature Capital Ltd purchased a new position in shares of Cingulate in the 4th quarter valued at approximately $66,000. Finally, Kestra Advisory Services LLC grew its stake in shares of Cingulate by 14.8% in the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock valued at $869,000 after purchasing an additional 18,000 shares during the last quarter. 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.