Cingulate (NASDAQ:CING) Director Purchases $490,271.04 in Stock

Cingulate Inc. (NASDAQ:CING) Director Thomas Jeffrey Hargroves bought 97,276 shares of the company’s stock in a transaction on Friday, February 13th. The shares were purchased at an average cost of $5.04 per share, for a total transaction of $490,271.04. Following the transaction, the director owned 97,468 shares in the company, valued at approximately $491,238.72. This represents a 50,664.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cingulate Stock Up 5.2%

Cingulate stock opened at $4.89 on Thursday. The company’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $5.41. Cingulate Inc. has a 52 week low of $3.16 and a 52 week high of $11.89. The stock has a market cap of $65.87 million, a P/E ratio of -1.16 and a beta of -0.85.

Cingulate (NASDAQ:CING) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.42). On average, equities analysts anticipate that Cingulate Inc. will post -2.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted 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 worth $31,000 after buying an additional 5,543 shares during the period. Soltis Investment Advisors LLC purchased a new stake in Cingulate in the 4th quarter worth approximately $43,000. XTX Topco Ltd purchased a new stake in Cingulate in the 2nd quarter worth approximately $45,000. Quantum Private Wealth LLC lifted its stake in Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Cingulate in the 4th quarter worth approximately $66,000. 41.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Cingulate from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Cingulate in a research note on Tuesday, May 19th. Ascendiant Capital Markets decreased their price target on shares of Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Cingulate in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cingulate presently has an average rating of “Moderate Buy” and a consensus price target of $27.33.

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.