Ascendiant Capital Markets Has Lowered Expectations for Cingulate (NASDAQ:CING) Stock Price

Key Points

• Price-target cut but rating maintained: Ascendiant Capital Markets trimmed its target on Cingulate from $58 to $55 while keeping a "buy" rating, though the Street consensus is a Hold with a $34.50 average target (two Buys, one Sell).
• Weak results and low stock price: Shares opened at $5.94 and were down ~4.2% after Cingulate reported a quarterly EPS loss of ($0.84) vs. ($0.56) expected, with analysts forecasting a steep negative full-year EPS (-11.69) and a market cap of about $69M.
• Insider and institutional activity: CEO Shane Schaffer and a director bought shares in February (insiders added 33,074 shares in the last 90 days and own 4.33%), while institutional investors hold roughly 41.31% of the stock.

Cingulate (NASDAQ:CING - Get Free Report) had its price target dropped by Ascendiant Capital Markets from $58.00 to $55.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock.

CING has been the topic of a number of other research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cingulate in a report on Wednesday, January 21st. Roth Mkm reduced their price target on shares of Cingulate from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $34.50.

Cingulate Stock Down 4.2%

NASDAQ:CING opened at $5.94 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $69.08 million, a P/E ratio of -1.37 and a beta of -0.76. Cingulate has a fifty-two week low of $3.20 and a fifty-two week high of $11.89. The firm has a 50-day simple moving average of $6.78 and a two-hundred day simple moving average of $5.05.

Cingulate (NASDAQ:CING - Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.28). Analysts predict that Cingulate will post -11.69 earnings per share for the current fiscal year.

Insider Activity at Cingulate

In other news, CEO Shane J. Schaffer purchased 6,809 shares of the stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $5.04 per share, with a total value of $34,317.36. Following the completion of the acquisition, the chief executive officer directly owned 10,175 shares of the company's stock, valued at $51,282. This trade represents a 202.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter J. Werth acquired 19,455 shares of Cingulate stock in a transaction dated Friday, February 6th. The shares were bought 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 of the company's stock, valued at approximately $591,942.96. The trade was a 19.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 33,074 shares of company stock worth $166,693 in the last ninety days. Insiders own 4.33% of the company's stock.

Institutional Investors Weigh In On Cingulate

Large investors have recently bought and sold shares of the business. DRW Securities LLC bought a new position in Cingulate during the fourth quarter valued at $255,000. Kestra Advisory Services LLC boosted its stake in shares of Cingulate by 29.8% during the fourth quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company's stock valued at $529,000 after purchasing an additional 27,979 shares during the period. XTX Topco Ltd purchased a new stake in shares of Cingulate during the fourth quarter valued at $90,000. Geode Capital Management LLC boosted its stake in shares of Cingulate by 43.9% during the fourth 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 period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Cingulate during the fourth quarter valued at $66,000. Institutional investors own 41.31% of the company's stock.

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.

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