Short Interest in Cingulate Inc. (NASDAQ:CING) Decreases By 22.1%

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 92,900 shares, a decrease of 22.1% from the February 28th total of 119,200 shares. Based on an average trading volume of 137,700 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cingulate

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of Cingulate during the third quarter valued at $106,000. Geode Capital Management LLC acquired a new stake in Cingulate in the fourth quarter valued at $135,000. Commonwealth Equity Services LLC raised its position in Cingulate by 281.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock worth $212,000 after purchasing an additional 31,746 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Cingulate by 50,000.0% during the 4th quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after buying an additional 5,000 shares during the period. 41.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CING. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Cingulate in a report on Thursday, March 6th. Roth Capital raised shares of Cingulate to a “strong-buy” rating in a research note on Friday, January 10th. Finally, Roth Mkm initiated coverage on Cingulate in a research note on Friday, January 10th. They issued a “buy” rating and a $12.00 price target for the company.

Cingulate Stock Performance

Shares of NASDAQ:CING traded down $0.07 during midday trading on Monday, hitting $4.29. 56,130 shares of the stock were exchanged, compared to its average volume of 1,064,657. The business’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.45. Cingulate has a 12 month low of $1.80 and a 12 month high of $20.83. The stock has a market capitalization of $13.76 million, a price-to-earnings ratio of -0.29 and a beta of -0.83.

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.