Cingulate (NASDAQ:CING) Trading Up 5.6%

Cingulate Inc. (NASDAQ:CING) was up 5.6% during trading on Friday . The stock traded as high as $0.69 and last traded at $0.69. Approximately 506,862 shares traded hands during trading, a decline of 1% from the average daily volume of 511,132 shares. The stock had previously closed at $0.65.

Cingulate Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $10.80 million, a P/E ratio of -0.41 and a beta of -0.49. The firm’s 50 day moving average is $0.66 and its 200 day moving average is $0.91.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Monday, August 14th. The company reported ($0.57) EPS for the quarter.

Insider Buying and Selling

In related news, Director Peter J. Werth purchased 1,823,155 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $0.55 per share, for a total transaction of $1,002,735.25. Following the purchase, the director now owns 2,798,320 shares of the company’s stock, valued at approximately $1,539,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new position in Cingulate during the 1st quarter valued at approximately $103,000. Renaissance Technologies LLC acquired a new position in Cingulate during the 1st quarter valued at approximately $100,000. Prime Capital Investment Advisors LLC acquired a new position in Cingulate during the 1st quarter valued at approximately $48,000. State Street Corp acquired a new stake in shares of Cingulate in the first quarter worth $44,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Cingulate in the fourth quarter worth $34,000. Institutional investors and hedge funds own 3.75% of the company’s stock.

About Cingulate

Cingulate Inc, a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders intended for children, adolescents, and adults.