Cingulate (NASDAQ:CING) CEO Shane Schaffer Purchases 6,809 Shares

Cingulate Inc. (NASDAQ:CING) CEO Shane Schaffer acquired 6,809 shares of Cingulate stock in a transaction that occurred on Friday, February 6th. The shares were purchased at an average cost of $5.04 per share, with a total value of $34,317.36. Following the purchase, the chief executive officer owned 10,175 shares of the company’s stock, valued at $51,282. This represents a 202.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cingulate Stock Performance

CING traded down $0.40 on Tuesday, reaching $6.82. The company had a trading volume of 275,962 shares, compared to its average volume of 363,452. Cingulate Inc. has a 52-week low of $3.20 and a 52-week high of $7.92. The company has a market cap of $50.81 million, a price-to-earnings ratio of -1.88 and a beta of -0.75. The business has a 50 day simple moving average of $4.86 and a 200 day simple moving average of $4.29.

Cingulate (NASDAQ:CING) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.55). As a group, equities research analysts predict that Cingulate Inc. will post -11.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CING shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Roth Mkm decreased their price objective on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Ascendiant Capital Markets reduced their price target on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Hedge Funds Weigh In On Cingulate

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in Cingulate by 283.1% in the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after acquiring an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Cingulate during the fourth quarter valued at approximately $43,000. XTX Topco Ltd purchased a new stake in shares of Cingulate in the second quarter worth approximately $45,000. Quantum Private Wealth LLC lifted its stake in shares of Cingulate by 140.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cingulate by 43.9% during the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after acquiring an additional 18,629 shares during the period. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Company Profile

Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.