Cingulate (NASDAQ:CING) Trading Up 3.1% – Still a Buy?

Cingulate Inc. (NASDAQ:CING) was up 3.1% on Friday . The company traded as high as $5.76 and last traded at $5.61. Approximately 205,740 shares traded hands during trading, an increase of 12% from the average daily volume of 183,466 shares. The stock had previously closed at $5.44.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CING shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, October 8th. Roth Capital lowered their price objective on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Ascendiant Capital Markets reduced their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

Cingulate Price Performance

The stock has a market cap of $41.79 million, a PE ratio of -1.55 and a beta of -0.76. The business has a 50 day moving average price of $4.09 and a two-hundred day moving average price of $4.16.

Cingulate (NASDAQ:CING) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). On average, sell-side analysts forecast that Cingulate Inc. will post -11.69 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

A number of institutional investors have recently modified their holdings of the company. Quantum Private Wealth LLC increased its holdings in Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after purchasing an additional 14,000 shares during the period. XTX Topco Ltd bought a new stake in shares of Cingulate in the 2nd quarter worth approximately $45,000. Finally, Bank of America Corp DE grew its position in shares of Cingulate by 283.1% in the 2nd 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. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

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.