Cingulate Inc. (NASDAQ:CING) Sees Large Growth in Short Interest

Cingulate Inc. (NASDAQ:CING – Get Rating) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 23,300 shares, a growth of 20.7% from the June 30th total of 19,300 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 39,200 shares, the days-to-cover ratio is presently 0.6 days.

Cingulate Trading Up 12.9 %

CING stock opened at $1.40 on Thursday. Cingulate has a 12-month low of $1.04 and a 12-month high of $5.15. The business’s fifty day moving average price is $1.37 and its 200 day moving average price is $1.54.

Cingulate (NASDAQ:CING – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.44) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Cingulate

Several institutional investors and hedge funds have recently modified their holdings of CING. Eagle Asset Management Inc. purchased a new stake in Cingulate during the 1st quarter worth about $94,000. Renaissance Technologies LLC purchased a new stake in Cingulate during the 1st quarter worth about $100,000. Altium Capital Management LP purchased a new stake in Cingulate during the 4th quarter worth about $232,000. Finally, Lynwood Capital Management Inc. increased its holdings in Cingulate by 80.8% during the 1st quarter. Lynwood Capital Management Inc. now owns 225,994 shares of the company’s stock worth $445,000 after purchasing an additional 100,994 shares during the period. Hedge funds and other institutional investors own 25.01% of the company’s stock.

About Cingulate

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Cingulate Inc, a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders.

Further Reading

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