Cingulate Inc. (NASDAQ:CING – Get Rating) saw a large decline in short interest in December. As of December 30th, there was short interest totalling 82,100 shares, a decline of 22.4% from the December 15th total of 105,800 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 50,600 shares, the short-interest ratio is presently 1.6 days.
Cingulate Trading Down 2.1 %
Shares of NASDAQ:CING opened at $0.95 on Friday. The stock has a market capitalization of $10.74 million and a P/E ratio of -0.64. Cingulate has a 1-year low of $0.66 and a 1-year high of $2.95. The business has a 50-day moving average price of $0.96 and a two-hundred day moving average price of $1.21.
Institutional Trading of Cingulate
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning bought a new stake in shares of Cingulate in the 2nd quarter valued at about $34,000. Renaissance Technologies LLC bought a new stake in shares of Cingulate in the 1st quarter valued at about $100,000. Finally, Eagle Asset Management Inc. increased its stake in shares of Cingulate by 124.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 107,527 shares of the company’s stock valued at $115,000 after acquiring an additional 59,632 shares during the last quarter. 2.35% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have weighed in on CING shares. HC Wainwright started coverage on Cingulate in a report on Tuesday. They set a “buy” rating for the company. Maxim Group started coverage on Cingulate in a report on Tuesday, November 22nd. They set a “buy” rating for the company. Finally, Ascendiant Capital Markets started coverage on Cingulate in a report on Monday, October 3rd. They set a “buy” rating for the company.
Cingulate Company Profile
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.
- Get a free copy of the StockNews.com research report on Cingulate (CING)
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