Cingulate (NASDAQ:CING) Stock Price Down 4.1% - What's Next?

Key Points

• Cingulate shares fell 4.1% on Friday, trading as low as $4.55 before ending at $4.64, with volume well below average at about 78,000 shares.
• Analysts remain mixed: several firms kept or reiterated buy ratings, but others downgraded the stock, leaving Cingulate with a Moderate Buy consensus and an average price target of $27.33.
• The company recently reported a larger-than-expected loss, posting EPS of $(0.95) versus estimates of $(0.53), while analysts expect it to remain unprofitable this year.

Cingulate Inc. (NASDAQ:CING - Get Free Report) shares dropped 4.1% on Friday . The company traded as low as $4.55 and last traded at $4.64. Approximately 78,014 shares changed hands during trading, a decline of 73% from the average session volume of 287,087 shares. The stock had previously closed at $4.84.

Analysts Set New Price Targets

CING has been the topic of a number of research reports. Ascendiant Capital Markets dropped their price target on Cingulate from $55.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, June 8th. Wall Street Zen cut Cingulate from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Cingulate in a research report on Tuesday, May 26th. Roth Capital reissued a "buy" rating and issued a $10.00 target price on shares of Cingulate in a research report on Tuesday, May 19th. Finally, Weiss Ratings downgraded Cingulate from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Cingulate currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Cingulate Price Performance

The company's 50-day simple moving average is $4.77 and its two-hundred day simple moving average is $5.61. The firm has a market capitalization of $62.50 million, a P/E ratio of -1.10 and a beta of -0.91.

Cingulate (NASDAQ:CING - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.42). Analysts predict that Cingulate Inc. will post -2.4 earnings per share for the current year.

Institutional Trading of Cingulate

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Cingulate by 283.1% in 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 shares of Cingulate during the 4th quarter valued at about $43,000. XTX Topco Ltd bought a new position in shares of Cingulate during the 2nd quarter valued at approximately $45,000. Quadrature Capital Ltd bought a new position in shares of Cingulate during the 4th quarter valued at approximately $66,000. Finally, Kestra Advisory Services LLC increased its holdings in Cingulate by 14.8% in the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company's stock worth $869,000 after acquiring an additional 18,000 shares in the last quarter. 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.

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