Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 77,200 shares, a decrease of 13.5% from the October 31st total of 89,200 shares. Based on an average daily trading volume, of 317,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.5% of the company’s stock are sold short.

Cingulate Price Performance

Shares of NASDAQ CING traded down $0.10 during trading hours on Tuesday, hitting $4.20. 28,185 shares of the stock were exchanged, compared to its average volume of 1,112,226. Cingulate has a one year low of $1.80 and a one year high of $152.40. The company’s 50 day moving average is $4.46 and its 200 day moving average is $3.35.

Cingulate (NASDAQ:CING) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.22) by $0.39. On average, sell-side analysts predict that Cingulate will post -9.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Maxim Group raised Cingulate from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cingulate stock. Jane Street Group LLC acquired a new stake in shares of Cingulate Inc. (NASDAQ:CING) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned about 0.66% of Cingulate as of its most recent filing with the Securities & Exchange Commission. 41.31% of the stock is currently owned by institutional investors and hedge funds.

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.