Cingulate (NASDAQ:CING) Stock Rating Upgraded by Wall Street Zen

Cingulate (NASDAQ:CING) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on CING. Ascendiant Capital Markets cut their target price on Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, June 8th. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Cingulate in a report on Tuesday, May 26th. Roth Capital set a $9.00 price target on Cingulate and gave the stock a “buy” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings downgraded Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cingulate has an average rating of “Moderate Buy” and an average price target of $27.00.

Cingulate Price Performance

Shares of NASDAQ:CING opened at $5.32 on Friday. The company has a market capitalization of $77.36 million, a P/E ratio of -1.48 and a beta of -0.90. Cingulate has a 1 year low of $3.16 and a 1 year high of $11.89. The business’s 50 day simple moving average is $5.03 and its 200 day simple moving average is $5.53.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18. On average, sell-side analysts anticipate that Cingulate will post -2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Cingulate in the 2nd quarter valued at $45,000. Bank of America Corp DE raised its stake in Cingulate by 283.1% during the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock worth $31,000 after buying an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in Cingulate during the fourth quarter worth $43,000. Geode Capital Management LLC lifted its holdings in Cingulate by 43.9% in the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after buying an additional 18,629 shares during the period. Finally, DRW Securities LLC acquired a new position in Cingulate in the fourth quarter valued at $255,000. 41.31% of the stock is owned by 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.