Cingulate Inc. (NASDAQ:CING) Sees Significant Increase in Short Interest

Cingulate Inc. (NASDAQ:CING) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 141,000 shares, a growth of 51.8% from the March 15th total of 92,900 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average trading volume of 133,700 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CING. Roth Mkm started coverage on shares of Cingulate in a report on Friday, January 10th. They issued a “buy” rating and a $12.00 price objective for the company. Roth Capital raised Cingulate to a “strong-buy” rating in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a report on Thursday, March 6th.

Institutional Investors Weigh In On Cingulate

Large investors have recently modified their holdings of the stock. AlphaMark Advisors LLC lifted its holdings in Cingulate by 50,000.0% during the fourth quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock valued at $25,000 after purchasing an additional 5,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Cingulate in the third quarter worth $106,000. Geode Capital Management LLC purchased a new stake in shares of Cingulate in the 4th quarter valued at about $135,000. Finally, Commonwealth Equity Services LLC lifted its position in Cingulate by 281.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock valued at $212,000 after purchasing an additional 31,746 shares during the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Cingulate Stock Performance

NASDAQ:CING traded up $0.06 during trading on Thursday, reaching $4.24. The company’s stock had a trading volume of 61,134 shares, compared to its average volume of 1,064,674. The firm has a market cap of $15.98 million, a price-to-earnings ratio of -0.29 and a beta of -0.87. The firm has a 50 day moving average of $4.03 and a 200-day moving average of $4.34. Cingulate has a 12 month low of $1.80 and a 12 month high of $20.83.

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.