Cingulate (NASDAQ:CING) Director Acquires $98,053.20 in Stock

Cingulate Inc. (NASDAQ:CING) Director Peter Werth bought 19,455 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $5.04 per share, for a total transaction of $98,053.20. Following the transaction, the director owned 117,449 shares in the company, valued at approximately $591,942.96. This represents a 19.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cingulate Trading Down 5.5%

Shares of CING stock traded down $0.40 during trading on Tuesday, hitting $6.82. The company had a trading volume of 275,962 shares, compared to its average volume of 363,452. Cingulate Inc. has a one year low of $3.20 and a one year high of $7.92. The stock’s 50-day moving average price is $4.86 and its 200 day moving average price is $4.29.

Cingulate (NASDAQ:CING) last issued its earnings results on Thursday, November 13th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). On average, research analysts predict that Cingulate Inc. will post -11.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, January 21st. Ascendiant Capital Markets decreased their price target on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Finally, Roth Mkm dropped 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. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cingulate presently has an average rating of “Moderate Buy” and a consensus target price of $31.33.

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.