Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 141,000 shares, a growth of 51.8% from the March 15th total of 92,900 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average trading volume of 133,700 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CING. Roth Mkm assumed coverage on shares of Cingulate in a report on Friday, January 10th. They set a “buy” rating and a $12.00 price objective on the stock. Roth Capital upgraded Cingulate to a “strong-buy” rating in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a research report on Thursday, March 6th.

Cingulate Stock Performance

Shares of CING traded up $0.06 during midday trading on Friday, hitting $4.24. 61,144 shares of the stock were exchanged, compared to its average volume of 1,068,866. Cingulate has a 52-week low of $1.80 and a 52-week high of $20.83. The stock has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $4.33. The firm has a market cap of $15.98 million, a P/E ratio of -0.29 and a beta of -0.87.

Hedge Funds Weigh In On Cingulate

Several institutional investors have recently bought and sold shares of the company. AlphaMark Advisors LLC boosted its stake in shares of Cingulate by 50,000.0% in the fourth 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 during the period. Jane Street Group LLC acquired a new stake in Cingulate during the 3rd quarter worth approximately $106,000. Geode Capital Management LLC purchased a new position in Cingulate in the 4th quarter valued at approximately $135,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cingulate by 281.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock worth $212,000 after acquiring an additional 31,746 shares in the last quarter. 41.31% of the stock is owned by institutional investors and hedge funds.

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.