Ascendiant Capital Markets Has Lowered Expectations for Cingulate (NASDAQ:CING) Stock Price

Cingulate (NASDAQ:CING) had its price target cut by research analysts at Ascendiant Capital Markets from $75.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other equities research analysts have also recently commented on the company. Roth Capital upgraded Cingulate to a “strong-buy” rating in a research note on Friday, January 10th. Roth Mkm assumed coverage on shares of Cingulate in a report on Friday, January 10th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Cingulate in a research note on Thursday, March 6th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cingulate has a consensus rating of “Buy” and a consensus target price of $30.67.

Cingulate Stock Up 2.2 %

Shares of CING stock opened at $4.16 on Monday. The stock’s 50-day moving average price is $4.01 and its 200 day moving average price is $4.32. The stock has a market capitalization of $16.39 million, a PE ratio of -0.28 and a beta of -0.87. Cingulate has a 52-week low of $1.80 and a 52-week high of $20.83.

Institutional Investors Weigh In On Cingulate

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC acquired a new position in shares of Cingulate during the 4th quarter worth $135,000. Commonwealth Equity Services LLC boosted its holdings in Cingulate by 281.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock worth $212,000 after buying an additional 31,746 shares in the last quarter. AlphaMark Advisors LLC grew its position in Cingulate by 50,000.0% during the fourth quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after buying an additional 5,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in Cingulate in the third quarter valued at about $106,000. Institutional investors and hedge funds 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.