Cingulate (NASDAQ:CING) Releases Earnings Results, Misses Expectations By $0.42 EPS

Cingulate (NASDAQ:CING) issued its earnings results on Thursday. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.42), FiscalAI reports.

Cingulate Price Performance

CING stock traded up $0.18 during mid-day trading on Friday, reaching $4.57. 458,412 shares of the company’s stock were exchanged, compared to its average volume of 496,472. The company has a market cap of $55.99 million, a price-to-earnings ratio of -1.08 and a beta of -0.81. The stock’s 50 day moving average is $6.23 and its 200 day moving average is $5.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.16 and a quick ratio of 1.16. Cingulate has a 12-month low of $3.20 and a 12-month high of $11.89.

Hedge Funds Weigh In On Cingulate

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its position 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 purchasing an additional 5,543 shares in the last quarter. XTX Topco Ltd purchased a new position in Cingulate during the second quarter worth approximately $45,000. Quadrature Capital Ltd purchased a new position in Cingulate during the fourth quarter worth approximately $66,000. DRW Securities LLC purchased a new position in Cingulate during the fourth quarter worth approximately $255,000. Finally, Geode Capital Management LLC boosted its position in Cingulate by 43.9% during the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after purchasing an additional 18,629 shares in the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Roth Mkm lowered their target price on Cingulate from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Ascendiant Capital Markets lowered their target price on Cingulate from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen downgraded Cingulate from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cingulate currently has an average rating of “Hold” and a consensus price target of $34.50.

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.