Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 1,420,957 shares, an increase of 31.7% from the March 31st total of 1,078,595 shares. Based on an average daily volume of 385,913 shares, the days-to-cover ratio is presently 3.7 days. Approximately 12.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Roth Mkm lowered their price target on shares of Cingulate from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Monday, April 20th. Finally, Ascendiant Capital Markets lowered their price target on shares of Cingulate from $58.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.50.

Cingulate Trading Up 0.1%

Shares of CING stock traded up $0.00 during trading hours on Friday, hitting $5.15. 36,552 shares of the company were exchanged, compared to its average volume of 464,236. The company has a 50 day simple moving average of $6.49 and a two-hundred day simple moving average of $5.21. Cingulate has a fifty-two week low of $3.20 and a fifty-two week high of $11.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $63.13 million, a P/E ratio of -1.19 and a beta of -0.76.

Cingulate (NASDAQ:CING) last posted its quarterly earnings results on Wednesday, March 18th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.28). Equities analysts anticipate that Cingulate will post -1.88 EPS for the current year.

Insider Activity at Cingulate

In other news, Director Peter J. Werth purchased 19,455 shares of the stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the acquisition, the director owned 117,449 shares in the company, valued at $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane J. Schaffer purchased 6,809 shares of the stock in a transaction on Friday, February 6th. The shares were purchased at an average price of $5.04 per share, with a total value of $34,317.36. Following the acquisition, the chief executive officer owned 10,175 shares in the company, valued at approximately $51,282. The trade was a 202.29% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 33,074 shares of company stock valued at $166,693. Company insiders own 4.33% of the company’s stock.

Institutional Trading of Cingulate

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its position in Cingulate by 283.1% in the 2nd 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 period. Soltis Investment Advisors LLC acquired a new stake in Cingulate in the 4th quarter valued at $43,000. XTX Topco Ltd acquired a new stake in Cingulate in the 2nd quarter valued at $45,000. Quadrature Capital Ltd acquired a new stake in Cingulate in the 4th quarter valued at $66,000. Finally, Quantum Private Wealth LLC grew its position in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after purchasing an additional 14,000 shares during the period. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.