Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 133,400 shares, an increase of 24.8% from the January 31st total of 106,900 shares. Based on an average daily volume of 141,800 shares, the short-interest ratio is currently 0.9 days. Approximately 4.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Cingulate

A number of hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC increased its holdings in Cingulate by 50,000.0% in the 4th quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock valued at $25,000 after purchasing an additional 5,000 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Cingulate in the third quarter worth about $106,000. Geode Capital Management LLC acquired a new stake in shares of Cingulate in the fourth quarter valued at about $135,000. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Cingulate by 281.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock valued at $212,000 after buying an additional 31,746 shares during the period. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Cingulate Price Performance

CING stock traded down $0.03 during trading on Wednesday, reaching $3.83. 106,352 shares of the stock traded hands, compared to its average volume of 164,659. The business’s 50 day moving average price is $4.61 and its 200-day moving average price is $5.03. Cingulate has a 52-week low of $1.80 and a 52-week high of $20.83.

Analysts Set New Price Targets

A number of brokerages have recently commented on CING. Maxim Group upgraded shares of Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. HC Wainwright lifted their target price on shares of Cingulate from $8.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Roth Mkm began coverage on Cingulate in a research note on Friday, January 10th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Roth Capital raised Cingulate to a “strong-buy” rating in a research report on Friday, January 10th.

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.