Cingulate Inc. (NASDAQ:CING) Short Interest Down 16.5% in January

Cingulate Inc. (NASDAQ:CING) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 270,806 shares, a decrease of 16.5% from the December 31st total of 324,295 shares. Approximately 3.8% of the shares of the stock are short sold. Based on an average daily volume of 265,616 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 265,616 shares, the short-interest ratio is currently 1.0 days. Approximately 3.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CING shares. Ascendiant Capital Markets lowered their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Roth Mkm decreased their price target on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cingulate presently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

Cingulate Stock Up 3.6%

NASDAQ:CING traded up $0.22 on Wednesday, hitting $6.45. The stock had a trading volume of 35,407 shares, compared to its average volume of 310,706. The business’s 50-day simple moving average is $4.60 and its two-hundred day simple moving average is $4.25. The stock has a market cap of $48.08 million, a price-to-earnings ratio of -1.77 and a beta of -0.75. Cingulate has a 52-week low of $3.20 and a 52-week high of $6.74.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). As a group, equities research analysts anticipate that Cingulate will post -11.69 EPS for the current year.

Institutional Trading of Cingulate

A number of hedge funds and other institutional investors have recently bought and sold shares of CING. Quantum Private Wealth LLC lifted its position in shares of 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 buying an additional 14,000 shares in the last quarter. Bank of America Corp DE raised its stake 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 acquiring an additional 5,543 shares during the period. Finally, XTX Topco Ltd purchased a new position in Cingulate during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 41.31% of the company’s stock.

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.