Cingulate Inc. (NASDAQ:CING) Sees Significant Decrease in Short Interest

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.

Cingulate (NASDAQ:CING – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.36) EPS for the quarter.

Insider Activity

In other news, Director Gregg Wm Givens bought 85,000 shares of Cingulate stock in a transaction dated Tuesday, November 22nd. The shares were bought at an average price of $0.88 per share, for a total transaction of $74,800.00. Following the purchase, the director now owns 154,318 shares of the company’s stock, valued at $135,799.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cingulate news, Director Gregg Wm Givens purchased 85,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was acquired at an average cost of $0.88 per share, with a total value of $74,800.00. Following the completion of the acquisition, the director now directly owns 154,318 shares of the company’s stock, valued at approximately $135,799.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter J. Werth purchased 28,934 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was acquired at an average cost of $0.98 per share, with a total value of $28,355.32. Following the completion of the acquisition, the director now directly owns 975,165 shares of the company’s stock, valued at $955,661.70. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 141,388 shares of company stock worth $129,998. Corporate insiders own 31.28% of the company’s stock.

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

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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.