Cingulate (NASDAQ:CING) Price Target Lowered to $55.00 at Ascendiant Capital Markets

Cingulate (NASDAQ:CING) had its price target trimmed by Ascendiant Capital Markets from $58.00 to $55.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

CING has been the topic of a number of other reports. Roth Mkm reduced their target price on shares of Cingulate from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cingulate has a consensus rating of “Hold” and an average price target of $34.50.

Cingulate Price Performance

Shares of CING stock opened at $5.85 on Wednesday. Cingulate has a 1 year low of $3.20 and a 1 year high of $11.89. The firm’s 50 day moving average is $6.78 and its 200-day moving average is $5.06. The firm has a market capitalization of $68.04 million, a price-to-earnings ratio of -1.35 and a beta of -0.76. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46.

Cingulate (NASDAQ:CING) last announced its earnings results on Wednesday, March 18th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.28). Sell-side analysts forecast that Cingulate will post -11.69 EPS for the current fiscal year.

Insider Activity at Cingulate

In other news, CEO Shane J. Schaffer bought 6,809 shares of the stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $5.04 per share, with a total value of $34,317.36. Following the completion of the purchase, the chief executive officer owned 10,175 shares of the company’s stock, valued at approximately $51,282. This trade represents a 202.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter J. Werth bought 19,455 shares of the stock in a transaction on Friday, February 6th. The stock was purchased at an average cost of $5.04 per share, with a total value of $98,053.20. Following the purchase, the director directly owned 117,449 shares of the company’s stock, valued at approximately $591,942.96. This represents a 19.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 33,074 shares of company stock valued at $166,693 in the last ninety days. Insiders own 4.33% of the company’s stock.

Institutional Investors Weigh In On Cingulate

Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Cingulate by 283.1% in the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after purchasing an additional 5,543 shares in the last quarter. Soltis Investment Advisors LLC bought a new stake in Cingulate in the fourth quarter valued at approximately $43,000. XTX Topco Ltd bought a new stake in Cingulate in the second quarter valued at approximately $45,000. Quadrature Capital Ltd bought a new stake in Cingulate in the fourth quarter valued at approximately $66,000. Finally, Quantum Private Wealth LLC increased its stake in Cingulate by 140.0% in the third 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 in the last quarter. 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.