Cingulate (NASDAQ:CING) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Cingulate Inc. (NASDAQ:CING)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $5.00 and traded as low as $4.65. Cingulate shares last traded at $4.72, with a volume of 179,348 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CING. Wall Street Zen raised shares of Cingulate from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Roth Capital set a $9.00 price objective on Cingulate and gave the company a “buy” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings upgraded Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cingulate presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Cingulate Stock Down 6.2%

The stock’s fifty day moving average is $5.00 and its two-hundred day moving average is $5.44. The firm has a market capitalization of $68.63 million, a price-to-earnings ratio of -1.31 and a beta of -0.88.

Cingulate (NASDAQ:CING) last issued its earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.18. As a group, analysts anticipate that Cingulate Inc. will post -2.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC increased its stake in shares of Cingulate by 14.8% during the first quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after purchasing an additional 18,000 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Cingulate in the first quarter valued at about $116,000. Renaissance Technologies LLC bought a new stake in shares of Cingulate during the 1st quarter worth approximately $198,000. Finally, BlackRock Inc. bought a new stake in Cingulate during the second quarter worth $291,000. 41.31% of the stock is owned by institutional investors.

About Cingulate

Cingulate Inc (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.