Cingulate (NASDAQ:CING) Research Coverage Started at Maxim Group

Maxim Group initiated coverage on shares of Cingulate (NASDAQ:CINGGet Rating) in a report published on Tuesday, The Fly reports. The brokerage issued a buy rating on the stock.

Separately, Ascendiant Capital Markets began coverage on shares of Cingulate in a research report on Monday, October 3rd. They issued a buy rating on the stock.

Cingulate Stock Performance

Shares of NASDAQ CING opened at $0.87 on Tuesday. Cingulate has a fifty-two week low of $0.66 and a fifty-two week high of $5.15. The stock has a market cap of $9.84 million and a price-to-earnings ratio of -0.59. The firm’s 50-day simple moving average is $1.11 and its 200 day simple moving average is $1.31.

Insider Buying and Selling at Cingulate

In other news, Director Peter J. Werth acquired 74,500 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was purchased at an average price of $1.52 per share, for a total transaction of $113,240.00. Following the purchase, the director now owns 946,231 shares in the company, valued at approximately $1,438,271.12. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.28% of the company’s stock.

Institutional Investors Weigh In On Cingulate

Several institutional investors and hedge funds have recently added to or reduced their stakes in CING. Lynwood Capital Management Inc. increased its stake in Cingulate by 80.8% in the 1st quarter. Lynwood Capital Management Inc. now owns 225,994 shares of the company’s stock valued at $445,000 after buying an additional 100,994 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Cingulate during the 1st quarter worth approximately $94,000. Renaissance Technologies LLC purchased a new stake in shares of Cingulate during the 1st quarter worth approximately $100,000. Finally, Creative Planning purchased a new stake in shares of Cingulate during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 5.72% of the company’s stock.

About Cingulate

(Get Rating)

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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