Cingulate Inc. (NASDAQ:CING) Short Interest Down 66.5% in April

Cingulate Inc. (NASDAQ:CING) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 13,900 shares, a decrease of 66.5% from the March 31st total of 41,500 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 308,600 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, HC Wainwright increased their target price on shares of Cingulate to $8.00 and gave the stock a “buy” rating in a report on Friday, January 5th.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Commonwealth Equity Services LLC bought a new stake in shares of Cingulate Inc. (NASDAQ:CING) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 100,771 shares of the company’s stock, valued at approximately $71,000. Commonwealth Equity Services LLC owned approximately 0.64% of Cingulate as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 41.31% of the company’s stock.

Cingulate Price Performance

CING traded up $0.04 on Friday, hitting $0.88. The company had a trading volume of 8,653 shares, compared to its average volume of 306,203. Cingulate has a 52-week low of $0.75 and a 52-week high of $23.40. The stock has a fifty day simple moving average of $1.07 and a 200-day simple moving average of $4.07. The firm has a market capitalization of $4.41 million, a P/E ratio of -0.03 and a beta of -0.95.

About Cingulate

Cingulate Inc, a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders intended for children, adolescents, and adults.