Cingulate (NASDAQ:CING) Releases Quarterly Earnings Results, Misses Expectations By $0.55 EPS

Cingulate (NASDAQ:CING) issued its quarterly earnings data on Thursday. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55), FiscalAI reports.

Cingulate Stock Performance

CING stock opened at $3.33 on Tuesday. Cingulate has a one year low of $3.20 and a one year high of $6.01. The firm’s fifty day moving average is $3.82 and its 200 day moving average is $4.13. The firm has a market cap of $22.51 million, a PE ratio of -0.92 and a beta of -0.74.

Institutional Trading of Cingulate

A hedge fund recently raised its stake in Cingulate stock. Bank of America Corp DE lifted its position in Cingulate Inc. (NASDAQ:CING) by 283.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,501 shares of the company’s stock after acquiring an additional 5,543 shares during the period. Bank of America Corp DE owned 0.14% of Cingulate worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 41.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CING. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, October 8th. Ascendiant Capital Markets raised their price objective on Cingulate from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Finally, Roth Capital upped their target price on Cingulate from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Five investment 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.com, Cingulate has an average rating of “Moderate Buy” and an average target price of $27.75.

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.