Cingulate Inc. (NASDAQ:CING) Sees Significant Increase in Short Interest

Cingulate Inc. (NASDAQ:CING) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 51,600 shares, an increase of 521.7% from the July 31st total of 8,300 shares. Based on an average daily trading volume, of 3,620,000 shares, the short-interest ratio is presently 0.0 days. Approximately 3.5% of the shares of the stock are short sold.

Cingulate Price Performance

Shares of NASDAQ CING opened at $9.88 on Wednesday. The business has a fifty day moving average of $2.31 and a two-hundred day moving average of $1.44. Cingulate has a 52-week low of $1.80 and a 52-week high of $187.20.

Cingulate (NASDAQ:CING) last announced its earnings results on Tuesday, August 13th. The company reported ($5.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.64) by $0.17.

Institutional Investors Weigh In On Cingulate

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC bought a new position in shares of Cingulate Inc. (NASDAQ:CING) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned 6.67% of Cingulate at the end of the most recent 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.