Cingulate (NASDAQ:CING) Given New $14.00 Price Target at Roth Mkm

Cingulate (NASDAQ:CING) had its target price cut by Roth Mkm from $16.00 to $14.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, January 21st. Ascendiant Capital Markets decreased their price objective on Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.00.

Cingulate Trading Down 6.1%

Shares of CING stock opened at $6.93 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.46. The firm has a market cap of $56.48 million, a P/E ratio of -1.60 and a beta of -0.77. The company has a 50 day moving average of $6.60 and a 200-day moving average of $4.87. Cingulate has a 12-month low of $3.20 and a 12-month high of $11.89.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Wednesday, March 18th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.28). Sell-side analysts anticipate that Cingulate will post -11.69 earnings per share for the current year.

Insider Buying and Selling at Cingulate

In related news, Director Peter J. Werth purchased 19,455 shares of Cingulate stock in a transaction dated Friday, February 6th. The stock was bought at an average cost of $5.04 per share, for a total transaction of $98,053.20. Following the completion of the transaction, the director owned 117,449 shares in the company, valued at $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shane J. Schaffer acquired 6,809 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average price of $5.04 per share, for a total transaction of $34,317.36. Following the completion of the purchase, the chief executive officer owned 10,175 shares in the company, valued at $51,282. This trade represents a 202.29% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 33,074 shares of company stock valued at $166,693. 4.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cingulate

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its stake in Cingulate by 283.1% during the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after acquiring an additional 5,543 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in Cingulate in the 4th quarter worth approximately $43,000. XTX Topco Ltd purchased a new stake in Cingulate in the 2nd quarter worth approximately $45,000. Quadrature Capital Ltd bought a new position in Cingulate in the 4th quarter valued at $66,000. Finally, Quantum Private Wealth LLC boosted its holdings in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after purchasing an additional 14,000 shares during the period. 41.31% of the stock is owned by hedge funds and other institutional investors.

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.