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

Key Points

• Wall Street Zen upgraded Cingulate’s rating from “strong sell” to “sell,” while broader analyst sentiment remains “Moderate Buy,” with three Buy ratings and one Sell rating.
• Analysts’ average price target is $27.33, although targets vary widely; Cingulate recently traded at $5.09, with a market capitalization of about $68.6 million.
• Cingulate beat quarterly earnings expectations, reporting a loss of $0.45 per share versus the $0.63 consensus estimate. Institutional investors own approximately 41.3% of the company, and analysts expect a full-year loss of $2.40 per share.

Cingulate (NASDAQ:CING - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Several other research analysts also recently commented on the company. Ascendiant Capital Markets cut their target price on Cingulate from $55.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, June 8th. Weiss Ratings upgraded Cingulate from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 24th. Roth Capital reissued a "buy" rating and issued a $10.00 price target on shares of Cingulate in a report on Tuesday, May 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Cingulate in a report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cingulate has an average rating of "Moderate Buy" and an average target price of $27.33.

Cingulate Price Performance

Cingulate stock opened at $5.09 on Friday. Cingulate has a one year low of $3.16 and a one year high of $11.89. The business has a fifty day moving average price of $4.92 and a 200-day moving average price of $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 - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.18. Sell-side analysts expect that Cingulate will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cingulate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of Cingulate by 283.1% during the second quarter. Bank of America Corp DE now owns 7,501 shares of the company's stock worth $31,000 after purchasing an additional 5,543 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in Cingulate in the fourth quarter valued at approximately $43,000. XTX Topco Ltd purchased a new stake in Cingulate in the second quarter valued at approximately $45,000. Quadrature Capital Ltd bought a new stake in Cingulate during the fourth quarter valued at approximately $66,000. Finally, Chicago Partners Investment Group LLC bought a new stake in Cingulate during the first quarter valued at approximately $116,000. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

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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