Cingulate (NASDAQ:CING) Stock Rating Upgraded by Maxim Group

Cingulate (NASDAQ:CING) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday,Benzinga reports.

Cingulate Stock Performance

Cingulate stock traded up $0.69 during trading on Wednesday, hitting $4.79. The company’s stock had a trading volume of 210,313 shares, compared to its average volume of 1,147,317. The stock’s fifty day moving average is $4.61 and its 200 day moving average is $3.14. Cingulate has a 1-year low of $1.80 and a 1-year high of $152.40.

Cingulate (NASDAQ:CING) last released its earnings results on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, beating the consensus estimate of ($2.22) by $0.39. Equities research analysts anticipate that Cingulate will post -9.26 earnings per share for the current year.

Institutional Investors Weigh In On Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC bought a new stake in Cingulate Inc. (NASDAQ:CING) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate as of its most recent filing with the Securities & Exchange Commission. 41.31% of the stock is currently owned by institutional investors.

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.