Short Interest in Cingulate Inc. (NASDAQ:CING) Expands By 44.0%

Cingulate Inc. (NASDAQ:CING) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 389,923 shares, an increase of 44.0% from the January 15th total of 270,806 shares. Based on an average trading volume of 390,745 shares, the short-interest ratio is presently 1.0 days. Approximately 5.5% of the company’s shares are sold short. Approximately 5.5% of the company’s shares are sold short. Based on an average trading volume of 390,745 shares, the short-interest ratio is presently 1.0 days.

Cingulate Stock Performance

Shares of NASDAQ:CING opened at $6.00 on Monday. The company has a market capitalization of $44.70 million, a P/E ratio of -1.66 and a beta of -0.75. The company’s 50-day moving average is $5.06 and its 200 day moving average is $4.32. Cingulate has a fifty-two week low of $3.20 and a fifty-two week high of $7.92.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). As a group, research analysts predict that Cingulate will post -11.69 earnings per share for the current year.

Insider Activity

In other Cingulate news, Director Peter J. Werth bought 19,455 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the transaction, the director directly owned 117,449 shares in the company, valued at approximately $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Shane J. Schaffer bought 6,809 shares of the stock in a transaction on Friday, February 6th. The stock was acquired at an average price of $5.04 per share, with a total value of $34,317.36. Following the completion of the acquisition, the chief executive officer owned 10,175 shares of the company’s stock, valued at $51,282. This represents a 202.29% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 33,074 shares of company stock valued at $166,693. Corporate insiders own 4.04% of the company’s stock.

Hedge Funds Weigh In On Cingulate

Several institutional investors and hedge funds have recently bought and sold shares of CING. Bank of America Corp DE raised its stake in shares of Cingulate by 283.1% in the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after buying an additional 5,543 shares during the period. Soltis Investment Advisors LLC purchased a new stake in Cingulate in the 4th quarter worth about $43,000. XTX Topco Ltd purchased a new stake in Cingulate in the 2nd quarter worth about $45,000. Quantum Private Wealth LLC raised its stake in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after acquiring an additional 14,000 shares during the period. Finally, DRW Securities LLC purchased a new stake in Cingulate during the fourth quarter valued at about $255,000. 41.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CING. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Ascendiant Capital Markets cut their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Finally, Roth Mkm decreased their target price on 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

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.