Cingulate (NASDAQ:CING) Stock Price Up 0.8%

Cingulate Inc. (NASDAQ:CING)’s stock price rose 0.8% on Monday . The stock traded as high as $0.94 and last traded at $0.89. Approximately 72,593 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 320,454 shares. The stock had previously closed at $0.88.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price target on shares of Cingulate to $8.00 and gave the company a “buy” rating in a research report on Friday, January 5th.

Cingulate Stock Performance

The company’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $4.27. The company has a market cap of $4.44 million, a PE ratio of -0.03 and a beta of -0.95.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC bought a new position in shares of Cingulate Inc. (NASDAQ:CING) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 754,792 shares of the company’s stock, valued at approximately $535,000. Armistice Capital LLC owned approximately 4.82% of Cingulate as of its most recent filing with the SEC. Institutional investors and hedge funds own 41.31% 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.