Cingulate (NASDAQ:CING) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Cingulate (NASDAQ:CING) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Roth Capital set a $9.00 target price on shares of Cingulate and gave the stock a “buy” rating in a report on Sunday, August 23rd. Weiss Ratings lowered shares of Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, November 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Cingulate Stock Up 4.5%

Shares of NASDAQ CING opened at $4.45 on Friday. Cingulate has a 12 month low of $3.16 and a 12 month high of $11.89. The business has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $5.41.

Cingulate (NASDAQ:CING) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18. Equities research analysts forecast that Cingulate will post -2.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Cingulate during the second quarter valued at $291,000. Renaissance Technologies LLC acquired a new stake in Cingulate during the 1st quarter worth about $198,000. Chicago Partners Investment Group LLC acquired a new stake in Cingulate during the 1st quarter worth about $116,000. Finally, Kestra Advisory Services LLC grew its stake in Cingulate by 14.8% during the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock valued at $869,000 after acquiring an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

About Cingulate

Cingulate Inc (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.