Cingulate (NASDAQ:CING) Releases Quarterly Earnings Results, Misses Estimates By $0.28 EPS

Cingulate (NASDAQ:CING) released its quarterly earnings results on Wednesday. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.28), Zacks reports.

Cingulate Trading Up 0.0%

Shares of Cingulate stock opened at $8.04 on Thursday. The company’s 50-day moving average price is $6.45 and its 200-day moving average price is $4.79. Cingulate has a 12-month low of $3.20 and a 12-month high of $11.89. The company has a market cap of $65.56 million, a price-to-earnings ratio of -2.22 and a beta of -0.77.

Insider Buying and Selling at Cingulate

In other news, Director Peter J. Werth bought 19,455 shares of the business’s stock in a transaction dated 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 acquisition, the director owned 117,449 shares of the company’s stock, valued at approximately $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Shane J. Schaffer bought 6,809 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average cost of $5.04 per share, for a total transaction of $34,317.36. Following the completion of the purchase, the chief executive officer owned 10,175 shares of the company’s stock, valued at $51,282. This trade represents a 202.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 33,074 shares of company stock valued at $166,693 in the last three months. 4.33% of the stock is owned by corporate insiders.

Institutional Trading of Cingulate

A number of hedge funds and other institutional investors have recently bought and sold shares of CING. Bank of America Corp DE increased its holdings in 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 acquiring an additional 5,543 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Cingulate in the second quarter worth $45,000. Quadrature Capital Ltd bought a new stake in shares of Cingulate during the 4th quarter valued at $66,000. Geode Capital Management LLC raised its position in shares of Cingulate by 43.9% during the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after purchasing an additional 18,629 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in Cingulate by 29.8% in the 4th quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock worth $529,000 after buying an additional 27,979 shares during the period. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CING shares. Roth Mkm dropped 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, January 21st. Finally, Ascendiant Capital Markets lowered their price target on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.00.

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.