Cingulate Inc. (NASDAQ:CING) Short Interest Down 74.4% in September

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 27,900 shares, a decline of 74.4% from the September 15th total of 108,800 shares. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is currently 0.0 days. Currently, 1.4% of the shares of the company are sold short.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC acquired a new position in Cingulate Inc. (NASDAQ:CING) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate at the end of the most recent reporting period. 41.31% of the stock is owned by institutional investors and hedge funds.

Cingulate Stock Performance

Shares of CING traded up $0.32 during trading hours on Friday, hitting $4.77. The stock had a trading volume of 184,913 shares, compared to its average volume of 1,285,860. Cingulate has a 12 month low of $1.80 and a 12 month high of $156.00. The stock has a fifty day moving average price of $5.79 and a 200 day moving average price of $2.48.

Cingulate (NASDAQ:CING) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($5.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($5.64) by $0.17. As a group, sell-side analysts anticipate that Cingulate will post -12.51 EPS for the current year.

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.