Peter Werth Purchases 19,455 Shares of Cingulate (NASDAQ:CING) Stock

Cingulate Inc. (NASDAQ:CING) Director Peter Werth purchased 19,455 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average cost of $5.04 per share, with a total value of $98,053.20. Following the completion of the purchase, the director owned 117,449 shares of the company’s stock, valued at $591,942.96. The trade was a 19.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Cingulate Trading Down 5.5%

Shares of Cingulate stock traded down $0.40 on Tuesday, reaching $6.82. 275,962 shares of the company were exchanged, compared to its average volume of 363,452. The company has a 50-day moving average of $4.86 and a 200 day moving average of $4.29. Cingulate Inc. has a one year low of $3.20 and a one year high of $7.92.

Cingulate (NASDAQ:CING) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.55). Equities research analysts predict that Cingulate Inc. will post -11.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CING shares. Roth Mkm reduced their target price on shares of Cingulate from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Ascendiant Capital Markets cut their price target on Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Three 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.33.

Hedge Funds Weigh In On Cingulate

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Cingulate by 283.1% during the 2nd quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after purchasing an additional 5,543 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in Cingulate in the 4th quarter valued at $43,000. XTX Topco Ltd acquired a new position in Cingulate in the 2nd quarter valued at $45,000. Quantum Private Wealth LLC lifted its holdings in shares of Cingulate by 140.0% during the third quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock worth $94,000 after buying an additional 14,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Cingulate by 43.9% during the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after buying an additional 18,629 shares in the last quarter. Institutional investors own 41.31% of the company’s stock.

Cingulate Company Profile

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.