Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 92,900 shares, a drop of 22.1% from the February 28th total of 119,200 shares. Based on an average daily volume of 137,700 shares, the short-interest ratio is currently 0.7 days. Currently, 3.0% of the shares of the company are short sold.

Cingulate Price Performance

NASDAQ CING traded down $0.07 on Monday, reaching $4.29. The stock had a trading volume of 56,130 shares, compared to its average volume of 1,064,657. The company has a market cap of $13.76 million, a P/E ratio of -0.29 and a beta of -0.83. The firm has a fifty day moving average of $4.28 and a two-hundred day moving average of $4.45. Cingulate has a 1-year low of $1.80 and a 1-year high of $20.83.

Analyst Ratings Changes

Several analysts have issued reports on CING shares. Roth Mkm started coverage on Cingulate in a research note on Friday, January 10th. They issued a “buy” rating and a $12.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Cingulate in a report on Thursday, March 6th. Finally, Roth Capital raised shares of Cingulate to a “strong-buy” rating in a report on Friday, January 10th.

Hedge Funds Weigh In On Cingulate

Several institutional investors and hedge funds have recently modified their holdings of the business. AlphaMark Advisors LLC boosted 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 during the period. Jane Street Group LLC bought a new position in shares of Cingulate during the third quarter worth approximately $106,000. Geode Capital Management LLC acquired a new stake in shares of Cingulate in the fourth quarter valued at approximately $135,000. Finally, Commonwealth Equity Services LLC boosted 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 valued at $212,000 after buying an additional 31,746 shares during the period. 41.31% of the stock is currently owned by institutional investors and hedge funds.

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.