Cingulate (NASDAQ:CING) Upgraded at Wall Street Zen

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

Several other brokerages also recently weighed in on CING. Weiss Ratings raised Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a research note on Tuesday, May 26th. Ascendiant Capital Markets decreased their price objective on Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a report on Monday, June 8th. Finally, Roth Capital restated a “buy” rating and issued a $10.00 target price on shares of Cingulate in a research note on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

Cingulate Trading Up 2.4%

Shares of NASDAQ CING opened at $5.21 on Friday. The company has a 50 day simple moving average of $4.94 and a two-hundred day simple moving average of $5.59. The stock has a market cap of $75.75 million, a price-to-earnings ratio of -1.45 and a beta of -0.90. Cingulate has a 12 month low of $3.16 and a 12 month high of $11.89.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18. Analysts forecast that Cingulate will post -2.4 EPS for the current year.

Institutional Trading of Cingulate

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Cingulate by 283.1% during the second 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 position in Cingulate in the fourth quarter valued at $43,000. XTX Topco Ltd acquired a new position in shares of Cingulate in the second quarter worth about $45,000. Quadrature Capital Ltd acquired a new position in shares of Cingulate in the fourth quarter worth about $66,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Cingulate during the 1st quarter worth about $116,000. 41.31% of the stock is owned by hedge funds and other institutional investors.

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.