Cingulate (NASDAQ:CING) Shares Down 0.2% - What's Next?

Key Points

• Cingulate shares slipped 0.2% to $5.23 in mid-day trading, with volume 32% below the average. The company has a $76 million market capitalization and trades below its 200-day moving average.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Sell rating producing a consensus “Moderate Buy” and an average price target of $27.00, despite one analyst cutting its target to $52.00.
• Cingulate reported a quarterly loss of $0.45 per share, beating the expected $0.63 loss. Institutional ownership stands at 41.31%, while the company continues developing once-daily ADHD treatment CTx-1301 using its Precision Timed Release platform.

Cingulate Inc. (NASDAQ:CING - Get Free Report)'s stock price dropped 0.2% on Monday . The company traded as low as $5.21 and last traded at $5.23. Approximately 75,479 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 111,032 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Ascendiant Capital Markets lowered their price target on shares of 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 objective on shares of Cingulate in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Cingulate from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 16th. Roth Capital set a $9.00 target price on shares of Cingulate and gave the company a "buy" rating in a research note on Sunday, August 23rd. Finally, Wall Street Zen upgraded shares of Cingulate from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Cingulate Stock Down 0.2%

The firm has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.40. The stock has a market capitalization of $76.04 million, a P/E ratio of -1.46 and a beta of -0.88.

Cingulate (NASDAQ:CING - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $0.18. Sell-side analysts anticipate that Cingulate Inc. will post -2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Cingulate during the 2nd quarter valued at about $291,000. Renaissance Technologies LLC bought a new stake in Cingulate during the first quarter valued at about $198,000. Chicago Partners Investment Group LLC purchased a new stake in Cingulate in the 1st quarter worth approximately $116,000. Finally, Kestra Advisory Services LLC raised its position 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 valued at $869,000 after purchasing an additional 18,000 shares during the period. 41.31% of the stock is owned by institutional investors.

Cingulate Company Profile

Cingulate Inc is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD). The company is developing its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to deliver multiple doses of medication from a single tablet at predetermined times during the day.

Cingulate's lead product candidate, CTx-1301, is an extended-release formulation of dexmethylphenidate intended to provide a full day of ADHD symptom control with once-daily dosing.

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