Cingulate Inc. (NASDAQ:CING) Short Interest Up 44.0% in January

Cingulate Inc. (NASDAQ:CING) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 389,923 shares, a growth of 44.0% from the January 15th total of 270,806 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily volume of 390,745 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 390,745 shares, the short-interest ratio is currently 1.0 days. Currently, 5.5% of the shares of the stock are short sold.

Insider Activity

In related news, Director Peter J. Werth purchased 19,455 shares of Cingulate stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the transaction, the director directly owned 117,449 shares in the company, valued at approximately $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shane J. Schaffer acquired 6,809 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average price of $5.04 per share, for a total transaction of $34,317.36. Following the completion of the acquisition, the chief executive officer owned 10,175 shares in the company, valued at $51,282. The trade was a 202.29% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 33,074 shares of company stock valued at $166,693. Insiders own 4.04% of the company’s stock.

Institutional Investors Weigh In On Cingulate

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC raised its stake in Cingulate by 29.8% during the fourth quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock worth $529,000 after purchasing an additional 27,979 shares during the period. DRW Securities LLC acquired a new stake in shares of Cingulate during the 4th quarter worth approximately $255,000. Geode Capital Management LLC raised its position in shares of Cingulate by 43.9% during the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after buying an additional 18,629 shares during the period. Bank of America Corp DE raised its position in shares of Cingulate by 283.1% during the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after buying an additional 5,543 shares during the period. Finally, XTX Topco Ltd acquired a new position in Cingulate in the second quarter valued at approximately $45,000. 41.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CING has been the subject of several research reports. Roth Mkm dropped their price target on Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Ascendiant Capital Markets lowered their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, January 21st. Three 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Cingulate Stock Performance

Shares of Cingulate stock opened at $6.00 on Friday. The business’s 50 day moving average price is $5.06 and its 200 day moving average price is $4.32. The company has a market cap of $44.70 million, a price-to-earnings ratio of -1.66 and a beta of -0.75. Cingulate has a one year low of $3.20 and a one year high of $7.92.

Cingulate (NASDAQ:CING) last issued its earnings results 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). On average, analysts predict that Cingulate will post -11.69 EPS for the current fiscal year.

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.