Cingulate (NASDAQ:CING) Stock Price Down 1.1% – Here’s What Happened

Cingulate Inc. (NASDAQ:CING)’s share price was down 1.1% during trading on Tuesday . The company traded as low as $4.95 and last traded at $5.16. Approximately 254,101 shares changed hands during mid-day trading, an increase of 147% from the average daily volume of 102,885 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CING shares. Ascendiant Capital Markets raised their price target on Cingulate from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Roth Capital set a $11.00 price target on Cingulate and gave the stock a “buy” rating in a report on Monday, May 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Cingulate has a consensus rating of “Buy” and an average price target of $26.00.

Cingulate Stock Down 1.1%

The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.16. The company has a market cap of $26.57 million, a PE ratio of -0.61 and a beta of -0.79. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $4.28.

Cingulate (NASDAQ:CING) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.04). Sell-side analysts predict that Cingulate Inc. will post -11.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cingulate

A hedge fund recently raised its stake in Cingulate stock. Commonwealth Equity Services LLC raised its position in shares of Cingulate Inc. (NASDAQ:CING) by 281.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,022 shares of the company’s stock after purchasing an additional 31,746 shares during the period. Commonwealth Equity Services LLC owned approximately 1.34% of Cingulate worth $212,000 at the end of the most recent reporting period. 41.31% of the stock is currently 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.