Cingulate (NASDAQ:CING) Stock Price Down 4.1% – Should You Sell?

Shares of Cingulate Inc. (NASDAQ:CING) traded down 4.1% on Friday . The stock traded as low as $4.55 and last traded at $4.64. 78,014 shares were traded during trading, a decline of 73% from the average session volume of 287,087 shares. The stock had previously closed at $4.84.

Wall Street Analysts Forecast Growth

CING has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Cingulate from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Cingulate in a research note on Tuesday, May 26th. Ascendiant Capital Markets decreased their target price on shares of Cingulate from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Roth Capital reissued a “buy” rating and issued a $10.00 price target on shares of Cingulate in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.33.

Cingulate Stock Performance

The company has a 50 day moving average price of $4.77 and a 200 day moving average price of $5.61. The firm has a market cap of $62.50 million, a price-to-earnings ratio of -1.10 and a beta of -0.91.

Cingulate (NASDAQ:CING) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.42). On average, research analysts forecast that Cingulate Inc. will post -2.4 earnings per share for the current year.

Institutional Investors Weigh In On Cingulate

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Cingulate in the 4th quarter worth approximately $90,000. Quadrature Capital Ltd purchased a new position in shares of Cingulate during the 4th quarter worth approximately $66,000. Kestra Advisory Services LLC increased its holdings in Cingulate by 29.8% in the 4th quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock valued at $529,000 after purchasing an additional 27,979 shares during the last quarter. DRW Securities LLC acquired a new stake in Cingulate in the 4th quarter valued at approximately $255,000. Finally, Geode Capital Management LLC raised its position in Cingulate by 43.9% in the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after purchasing an additional 18,629 shares during the period. 41.31% of the stock is currently owned by institutional investors and hedge funds.

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.