Cingulate (NASDAQ:CING) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cingulate (NASDAQ:CING) from a sell rating to a strong sell rating in a research report report published on Saturday.

Several other research firms have also recently commented on CING. Ascendiant Capital Markets lowered their target price on shares of Cingulate from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cingulate in a research note on Monday, April 20th. Finally, Roth Mkm lowered their target price on shares of Cingulate from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cingulate currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Cingulate Stock Up 4.1%

CING stock opened at $4.57 on Friday. The stock has a market capitalization of $55.98 million, a P/E ratio of -1.08 and a beta of -0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.16 and a current ratio of 1.16. Cingulate has a one year low of $3.20 and a one year high of $11.89. The company has a 50 day moving average price of $6.23 and a two-hundred day moving average price of $5.29.

Cingulate (NASDAQ:CING) last released its earnings results on Thursday, May 14th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.42). As a group, sell-side analysts expect that Cingulate will post -1.88 EPS for the current year.

Institutional Trading of Cingulate

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Cingulate by 283.1% during the 2nd 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 during the period. Soltis Investment Advisors LLC purchased a new stake in shares of Cingulate during the 4th quarter valued at $43,000. XTX Topco Ltd purchased a new stake in shares of Cingulate during the 2nd quarter valued at $45,000. Quadrature Capital Ltd purchased a new stake in shares of Cingulate during the 4th quarter valued at $66,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Cingulate during the 1st quarter valued at $116,000. 41.31% of the stock is owned by hedge funds and other institutional investors.

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.