Cingulate (NASDAQ:CING) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Cingulate (NASDAQ:CING) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings raised Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 24th. Ascendiant Capital Markets reduced their price target on Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, June 8th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Cingulate in a research note on Tuesday, May 26th. Finally, Roth Capital restated a “buy” rating and issued a $10.00 price target on shares of Cingulate in a research note on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

Cingulate Trading Up 2.0%

Shares of CING stock opened at $5.09 on Friday. Cingulate has a 1 year low of $3.16 and a 1 year high of $11.89. The firm’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.59. The firm has a market capitalization of $68.56 million, a P/E ratio of -1.42 and a beta of -0.90.

Cingulate (NASDAQ:CING) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.18. As a group, equities research analysts forecast that Cingulate will post -2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC increased its stake in shares of Cingulate by 14.8% during the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after purchasing an additional 18,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cingulate by 43.9% in the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after purchasing an additional 18,629 shares during the last quarter. DRW Securities LLC acquired a new stake in Cingulate in the 4th quarter valued at about $255,000. BlackRock Inc. bought a new position in Cingulate during the second quarter worth about $291,000. Finally, Renaissance Technologies LLC bought a new position in Cingulate during the first quarter worth about $198,000. Institutional investors own 41.31% of the company’s stock.

About Cingulate

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.