Cingulate Inc. (NASDAQ:CING) Short Interest Up 44.0% in January

Cingulate Inc. (NASDAQ:CING) was the target of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 389,923 shares, an increase of 44.0% from the January 15th total of 270,806 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 390,745 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 390,745 shares, the days-to-cover ratio is presently 1.0 days. Approximately 5.5% of the shares of the company are sold short.

Cingulate Stock Performance

Shares of NASDAQ CING opened at $6.00 on Friday. The company has a market capitalization of $44.70 million, a PE ratio of -1.66 and a beta of -0.75. The company’s fifty day moving average price is $5.06 and its 200 day moving average price is $4.32. Cingulate has a 1 year low of $3.20 and a 1 year high of $7.92.

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

Insider Transactions at Cingulate

In other news, Director Peter J. Werth bought 19,455 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were purchased at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the completion of the transaction, the director directly owned 117,449 shares in the company, valued at approximately $591,942.96. This represents a 19.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Shane J. Schaffer purchased 6,809 shares of Cingulate stock in a transaction on Friday, February 6th. The shares were acquired at an average cost of $5.04 per share, with a total value of $34,317.36. Following the completion of the transaction, the chief executive officer directly owned 10,175 shares in the company, valued at $51,282. The trade was a 202.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 33,074 shares of company stock worth $166,693 over the last three months. Corporate insiders own 4.04% of the company’s stock.

Institutional Trading of Cingulate

Several institutional investors have recently bought and sold shares of CING. Bank of America Corp DE increased its position in shares of Cingulate by 283.1% in the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after buying an additional 5,543 shares in the last quarter. Soltis Investment Advisors LLC acquired a new stake in Cingulate in the 4th quarter valued at $43,000. XTX Topco Ltd purchased a new stake in Cingulate in the 2nd quarter worth $45,000. Quantum Private Wealth LLC increased its holdings in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 acquiring an additional 18,629 shares during the period. 41.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CING. Ascendiant Capital Markets cut their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, January 21st. Finally, Roth Mkm decreased their price objective on Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.33.

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.