Cingulate (NASDAQ:CING) Shares Cross Above 50 Day Moving Average – What’s Next?

Cingulate Inc. (NASDAQ:CING)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $5.02 and traded as high as $5.27. Cingulate shares last traded at $5.18, with a volume of 229,764 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Cingulate from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Roth Capital set a $9.00 price target on shares of Cingulate and gave the company a “buy” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings upgraded shares of Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cingulate presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Cingulate Price Performance

The stock has a market cap of $75.32 million, a PE ratio of -1.44 and a beta of -0.88. The firm’s 50 day moving average price is $5.02 and its two-hundred day moving average price is $5.43.

Cingulate (NASDAQ:CING) last issued its earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.18. Analysts anticipate that Cingulate Inc. will post -2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Cingulate during the 2nd quarter valued at about $291,000. Renaissance Technologies LLC purchased a new position in shares of Cingulate during the 1st quarter valued at about $198,000. Chicago Partners Investment Group LLC purchased a new position in shares of Cingulate during the 1st quarter valued at about $116,000. Finally, Kestra Advisory Services LLC raised its holdings 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 buying an additional 18,000 shares in the last quarter. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

Cingulate Company Profile

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.