Roth Mkm Has Lowered Expectations for Cingulate (NASDAQ:CING) Stock Price

Cingulate (NASDAQ:CING) had its price target reduced by equities researchers at Roth Mkm from $16.00 to $14.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 96.33% from the company’s previous close.

A number of other brokerages have also issued reports on CING. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, January 21st. Ascendiant Capital Markets cut their price objective on Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.00.

Cingulate Price Performance

Cingulate stock traded down $0.25 during trading hours on Monday, hitting $7.13. 397,673 shares of the company traded hands, compared to its average volume of 475,482. Cingulate has a 1-year low of $3.20 and a 1-year high of $11.89. The firm has a market cap of $58.12 million, a P/E ratio of -1.65 and a beta of -0.77. The firm’s 50-day simple moving average is $6.56 and its two-hundred day simple moving average is $4.84. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.46.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data 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). As a group, analysts forecast that Cingulate will post -11.69 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Cingulate

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Cingulate by 283.1% during the 2nd 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 period. Soltis Investment Advisors LLC purchased a new stake in shares of Cingulate in the 4th quarter valued at approximately $43,000. XTX Topco Ltd acquired a new position in Cingulate in the 2nd quarter worth approximately $45,000. Quadrature Capital Ltd purchased a new position in Cingulate during the 4th quarter worth approximately $66,000. Finally, Quantum Private Wealth LLC raised its stake in Cingulate by 140.0% during 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. 41.31% of the stock is owned by hedge funds and other institutional investors.

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.