Thomas Jeffrey Hargroves Purchases 97,276 Shares of Cingulate (NASDAQ:CING) Stock

Cingulate Inc. (NASDAQ:CING) Director Thomas Jeffrey Hargroves acquired 97,276 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was bought at an average price of $5.04 per share, with a total value of $490,271.04. Following the transaction, the director directly owned 97,468 shares in the company, valued at $491,238.72. The trade was a 50,664.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cingulate Stock Up 0.9%

CING stock traded up $0.04 during trading on Monday, hitting $4.53. The company had a trading volume of 188,193 shares, compared to its average volume of 871,034. The firm has a 50-day moving average price of $5.14 and a 200-day moving average price of $5.39. Cingulate Inc. has a 12 month low of $3.16 and a 12 month high of $11.89. The stock has a market cap of $61.02 million, a price-to-earnings ratio of -1.07 and a beta of -0.85.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.42). Equities analysts expect that Cingulate Inc. will post -2.38 EPS for the current year.

Institutional Trading of Cingulate

Several institutional investors and hedge funds have recently made changes to their positions in CING. DRW Securities LLC bought a new stake in shares of Cingulate during the 4th quarter valued at $255,000. Renaissance Technologies LLC bought a new stake in shares of Cingulate during the 1st quarter valued at $198,000. Kestra Advisory Services LLC grew its holdings in shares of Cingulate by 29.8% in the 4th quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock valued at $529,000 after buying an additional 27,979 shares during the period. XTX Topco Ltd acquired a new position in shares of Cingulate in the 4th quarter valued at $90,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Cingulate in the 1st quarter valued at $116,000. Institutional investors own 41.31% of the company’s stock.

Analyst Ratings Changes

CING has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Cingulate in a research report on Tuesday, May 19th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Cingulate in a research report on Tuesday, May 26th. Ascendiant Capital Markets dropped their price objective on shares of Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen cut shares of Cingulate from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

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.