Cingulate (NASDAQ:CING) Stock Price Down 2.5% - Here's What Happened

Key Points

• Cingulate shares fell 2.5% to $4.72, with trading volume below average. The company has a market capitalization of approximately $68.6 million and trades below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed but leans positive: three analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $27.
• Cingulate reported a quarterly loss of $0.45 per share, beating expectations for a $0.63 loss. Institutional investors own 41.31% of the company, which is developing CTx-1301, a once-daily ADHD treatment candidate.

Cingulate Inc. (NASDAQ:CING - Get Free Report) was down 2.5% on Tuesday. The stock traded as low as $4.68 and last traded at $4.72. Approximately 73,187 shares traded hands during trading, a decline of 17% from the average session volume of 87,854 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CING shares. Roth Capital set a $9.00 target price on Cingulate and gave the company a "buy" rating in a research note on Sunday, August 23rd. Weiss Ratings lowered Cingulate from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 2nd. Finally, Wall Street Zen raised Cingulate from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Cingulate Stock Down 2.5%

The firm has a market cap of $68.63 million, a P/E ratio of -1.31 and a beta of -0.88. The stock's 50-day moving average is $5.12 and its 200-day moving average is $5.07.

Cingulate (NASDAQ:CING - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $0.18. As a group, analysts expect that Cingulate Inc. will post -2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CING. Chicago Partners Investment Group LLC bought a new stake in shares of Cingulate in the first quarter valued at about $116,000. Renaissance Technologies LLC acquired a new stake in Cingulate during the first quarter worth about $198,000. BlackRock Inc. acquired a new stake in Cingulate during the second quarter worth about $291,000. Finally, Kestra Advisory Services LLC increased its stake in Cingulate by 14.8% during the first quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company's stock valued at $869,000 after acquiring an additional 18,000 shares during the period. Institutional investors and hedge funds own 41.31% of the company's stock.

Cingulate Company Profile

Cingulate Inc is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company is developing pharmaceutical products intended to address challenges associated with existing therapies, including the need for sustained symptom control and convenient once-daily dosing.

Cingulate's lead product candidate, CTx-1301, is designed as a once-daily treatment for ADHD using its proprietary Precision Timed Release (PTR) drug-delivery platform.

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