Cingulate Inc. (NASDAQ:CING) to Post FY2022 Earnings of ($1.51) Per Share, HC Wainwright Forecasts

Cingulate Inc. (NASDAQ:CING – Get Rating) – Analysts at HC Wainwright issued their FY2022 earnings per share estimates for shares of Cingulate in a research note issued on Tuesday, January 17th. HC Wainwright analyst B. Pachaiyappan anticipates that the company will post earnings of ($1.51) per share for the year. HC Wainwright currently has a “Buy” rating on the stock. HC Wainwright also issued estimates for Cingulate’s Q4 2022 earnings at ($0.36) EPS, Q1 2023 earnings at ($0.27) EPS, Q2 2023 earnings at ($0.23) EPS, Q3 2023 earnings at ($0.24) EPS, Q4 2023 earnings at ($0.25) EPS and FY2023 earnings at ($0.98) EPS.

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

A number of other research firms have also commented on CING. Ascendiant Capital Markets began coverage on Cingulate in a research report on Monday, October 3rd. They issued a “buy” rating on the stock. Maxim Group began coverage on Cingulate in a research report on Tuesday, November 22nd. They issued a “buy” rating on the stock.

Cingulate Stock Up 2.6 %

Shares of CING opened at $0.98 on Friday. Cingulate has a 12-month low of $0.66 and a 12-month high of $2.48. The business has a 50-day simple moving average of $0.96 and a two-hundred day simple moving average of $1.21. The stock has a market cap of $11.03 million and a PE ratio of -0.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning bought a new position in Cingulate in the second quarter worth approximately $34,000. Renaissance Technologies LLC bought a new position in Cingulate in the first quarter worth approximately $100,000. Finally, Eagle Asset Management Inc. boosted its holdings in Cingulate by 124.5% in the third quarter. Eagle Asset Management Inc. now owns 107,527 shares of the company’s stock worth $115,000 after acquiring an additional 59,632 shares in the last quarter. Institutional investors own 2.35% of the company’s stock.

Insider Activity at Cingulate

In other Cingulate news, Director Gregg Wm Givens bought 85,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 154,318 shares in the company, valued at $135,799.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cingulate news, Director Peter J. Werth bought 28,934 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The shares were bought at an average price of $0.98 per share, for a total transaction of $28,355.32. Following the transaction, the director now directly owns 975,165 shares in the company, valued at $955,661.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregg Wm Givens purchased 85,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was purchased at an average price of $0.88 per share, for a total transaction of $74,800.00. Following the acquisition, the director now owns 154,318 shares of the company’s stock, valued at approximately $135,799.84. The disclosure for this purchase can be found here. Insiders have acquired a total of 141,388 shares of company stock worth $129,998 in the last 90 days. Corporate insiders own 31.28% of the company’s stock.

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.