Cingulate (NASDAQ:CING) Stock Price Down 2.5% – Time to Sell?

Cingulate Inc. (NASDAQ:CING) dropped 2.5% during mid-day trading on Tuesday. The stock traded as low as $4.68 and last traded at $4.72. 73,187 shares changed hands during trading, a decline of 17% from the average session volume of 87,854 shares. The stock had previously closed at $4.84.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CING shares. Wall Street Zen raised Cingulate from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings lowered Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Finally, Roth Capital set a $9.00 price objective on Cingulate and gave the stock a “buy” rating in a research note on Sunday, August 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Cingulate Stock Down 3.9%

The company has a market capitalization of $63.83 million, a P/E ratio of -1.22 and a beta of -0.88. The company’s 50-day simple moving average is $5.11 and its 200 day simple moving average is $5.05.

Cingulate (NASDAQ:CING) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.18. As a group, equities research analysts forecast that Cingulate Inc. will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On Cingulate

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Cingulate in the 2nd quarter valued at $291,000. Renaissance Technologies LLC bought a new position in Cingulate in the 1st quarter worth $198,000. Chicago Partners Investment Group LLC acquired a new position in Cingulate during the 1st quarter worth $116,000. Finally, Kestra Advisory Services LLC lifted its position in Cingulate by 14.8% during the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after acquiring an additional 18,000 shares during the last quarter. Institutional investors own 41.31% of the company’s stock.

About Cingulate

Cingulate Inc is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company is developing pharmaceutical products intended to address challenges associated with existing therapies, including the need for sustained symptom control and convenient once-daily dosing.

Cingulate’s lead product candidate, CTx-1301, is designed as a once-daily treatment for ADHD using its proprietary Precision Timed Release (PTR) drug-delivery platform.