Cingulate (NASDAQ:CING) Stock Price Crosses Below Fifty Day Moving Average - Should You Sell?

Key Points

• Cingulate shares fell below their 50-day moving average of $5.00, reaching a low of $4.65 before last trading at $4.72.
• Analysts’ consensus rating is Moderate Buy, with a reported average price target of $27.00; ratings include three Buys and one Sell.
• The company reported a quarterly loss of $0.45 per share, beating the analyst estimate of a $0.63 loss. Institutional investors and hedge funds own 41.31% of its shares.

Cingulate Inc. (NASDAQ:CING - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $5.00 and traded as low as $4.65. Cingulate shares last traded at $4.72, with a volume of 179,348 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Capital set a $9.00 price objective on Cingulate and gave the company a "buy" rating in a report on Sunday, August 23rd. Wall Street Zen upgraded shares of Cingulate from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, Weiss Ratings raised Cingulate from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, October 20th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

Cingulate Stock Performance

The business's 50 day moving average is $5.00 and its 200-day moving average is $5.44. The firm has a market capitalization of $68.63 million, a price-to-earnings ratio of -1.31 and a beta of -0.88.

Cingulate (NASDAQ:CING - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.18. Equities research analysts forecast that Cingulate Inc. will post -2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Cingulate

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its stake in shares of Cingulate by 14.8% in the first 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 in the last quarter. Chicago Partners Investment Group LLC bought a new position in Cingulate during the 1st quarter valued at about $116,000. Renaissance Technologies LLC bought a new position in shares of Cingulate in the first quarter valued at approximately $198,000. Finally, BlackRock Inc. bought a new position in Cingulate in the 2nd quarter valued at $291,000. Institutional investors and hedge funds own 41.31% of the company's stock.

About Cingulate

Cingulate Inc NASDAQ: CING is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company's lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate's primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.

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