Cingulate (NASDAQ:CING) Shares Cross Above 50-Day Moving Average – Should You Sell?

Cingulate Inc. (NASDAQ:CING) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $5.02 and traded as high as $5.27. Cingulate shares last traded at $5.18, with a volume of 229,764 shares changing hands.

Analyst Upgrades and Downgrades

CING has been the subject of several research analyst reports. Roth Capital set a $9.00 price target on shares of Cingulate and gave the company a “buy” rating in a report on Sunday, August 23rd. Wall Street Zen raised Cingulate from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings upgraded Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cingulate presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Cingulate Stock Down 5.1%

The firm has a fifty day moving average of $5.03 and a 200-day moving average of $5.43. The firm has a market cap of $76.35 million, a P/E ratio of -1.46 and a beta of -0.88.

Cingulate (NASDAQ:CING) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.18. On average, equities analysts forecast that Cingulate Inc. will post -2.19 EPS for the current year.

Institutional Trading of Cingulate

A number of institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC grew its stake in Cingulate by 14.8% during the first quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after buying an additional 18,000 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Cingulate in the 2nd quarter valued at approximately $291,000. Renaissance Technologies LLC acquired a new position in shares of Cingulate in the 1st quarter valued at approximately $198,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Cingulate during the 1st quarter worth approximately $116,000. Institutional investors own 41.31% of the company’s stock.

About Cingulate

Cingulate Inc (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.