Ascendiant Capital Markets Has Lowered Expectations for Cingulate (NASDAQ:CING) Stock Price

Cingulate (NASDAQ:CING) had its price objective decreased by Ascendiant Capital Markets from $58.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other analysts have also issued reports on CING. Weiss Ratings reissued a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, January 21st. Roth Mkm lowered their price objective 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.50.

Cingulate Stock Down 4.2%

Shares of CING opened at $5.94 on Wednesday. The firm has a market capitalization of $69.08 million, a P/E ratio of -1.37 and a beta of -0.76. Cingulate has a 12-month low of $3.20 and a 12-month high of $11.89. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $6.78 and a 200-day moving average price of $5.05.

Cingulate (NASDAQ:CING) last issued its earnings results on Wednesday, March 18th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.28). Equities research analysts expect that Cingulate will post -11.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Peter J. Werth bought 19,455 shares of the business’s stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $5.04 per share, with a total value of $98,053.20. Following the purchase, the director directly owned 117,449 shares of the company’s stock, valued at $591,942.96. The trade was a 19.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Shane J. Schaffer bought 6,809 shares of the business’s stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $5.04 per share, with a total value of $34,317.36. Following the completion of the purchase, the chief executive officer directly owned 10,175 shares in the company, valued at approximately $51,282. The trade was a 202.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 33,074 shares of company stock valued at $166,693 over the last ninety days. Corporate insiders own 4.33% of the company’s stock.

Institutional Trading of Cingulate

A number of hedge funds and other institutional investors have recently modified their holdings of CING. Bank of America Corp DE increased its stake in shares of 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 during the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Cingulate during the 4th quarter worth about $43,000. XTX Topco Ltd acquired a new stake in shares of Cingulate during the 2nd quarter worth about $45,000. Quadrature Capital Ltd acquired a new stake in shares of Cingulate during the 4th quarter worth about $66,000. Finally, Quantum Private Wealth LLC increased its position in shares of Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after purchasing an additional 14,000 shares during the last quarter. 41.31% of the stock is owned by institutional investors and hedge funds.

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.