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

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

Other analysts have also issued research reports about the company. Roth Capital set a $9.00 price target on Cingulate and gave the company a “buy” rating in a report on Sunday, August 23rd. Weiss Ratings downgraded Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Three equities 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 stock presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Cingulate Price Performance

Cingulate stock opened at $4.26 on Friday. The stock has a market cap of $61.94 million, a price-to-earnings ratio of -1.19 and a beta of -0.88. Cingulate has a 1 year low of $3.16 and a 1 year high of $11.89. The firm has a 50-day moving average of $4.92 and a two-hundred day moving average of $5.42.

Cingulate (NASDAQ:CING) last issued its earnings results on Thursday, August 13th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18. Research analysts expect that Cingulate will post -2.19 earnings per share for the current year.

Institutional Trading of Cingulate

A number of hedge funds have recently added to or reduced their stakes in CING. Chicago Partners Investment Group LLC bought a new position in Cingulate during the 1st quarter worth about $116,000. Renaissance Technologies LLC purchased a new position in Cingulate during the 1st quarter valued at about $198,000. BlackRock Inc. purchased a new position in Cingulate during the 2nd quarter valued at about $291,000. Finally, Kestra Advisory Services LLC raised its holdings in shares of Cingulate by 14.8% in the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock valued at $869,000 after purchasing an additional 18,000 shares in the last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.

About Cingulate

Cingulate Inc (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.