Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant growth in short interest during the month of 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. Based on an average trading volume of 390,745 shares, the days-to-cover ratio is presently 1.0 days. Currently, 5.5% of the company’s shares are short sold. Currently, 5.5% of the company’s shares are short sold. Based on an average trading volume of 390,745 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

CING has been the topic of several research reports. Ascendiant Capital Markets cut their price objective on Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Finally, Roth Mkm lowered their price objective on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.33.

Cingulate Stock Down 3.5%

CING stock opened at $6.00 on Tuesday. The stock’s 50 day moving average is $5.10 and its two-hundred day moving average is $4.32. Cingulate has a 52-week low of $3.20 and a 52-week high of $7.92. The company has a market capitalization of $44.70 million, a PE ratio of -1.66 and a beta of -0.75.

Insider Transactions at Cingulate

In other Cingulate news, Director Peter J. Werth purchased 19,455 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were purchased at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shane J. Schaffer acquired 6,809 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were acquired 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 $51,282. This trade represents a 202.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 33,074 shares of company stock valued at $166,693. 4.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cingulate

Several hedge funds and other institutional investors have recently modified their holdings of CING. Bank of America Corp DE raised its stake in shares of Cingulate by 283.1% in the 2nd 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 about $43,000. XTX Topco Ltd acquired a new stake in Cingulate during the second quarter valued at approximately $45,000. Quantum Private Wealth LLC lifted its holdings in Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after buying an additional 14,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Cingulate by 43.9% in the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after acquiring an additional 18,629 shares in the last quarter. Institutional investors own 41.31% of the company’s stock.

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.