Cingulate (NASDAQ:CING) Trading Down 5.2% – What’s Next?

Cingulate Inc. (NASDAQ:CING)’s share price traded down 5.2% during mid-day trading on Thursday . The company traded as low as $3.95 and last traded at $4.04. 101,756 shares changed hands during trading, a decline of 92% from the average session volume of 1,206,483 shares. The stock had previously closed at $4.26.

Cingulate Trading Down 5.2 %

The firm’s fifty day moving average is $5.52 and its 200-day moving average is $2.84.

Cingulate (NASDAQ:CING) last posted its 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. On average, equities analysts predict that Cingulate Inc. will post -12.51 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC acquired a new position in shares of Cingulate Inc. (NASDAQ:CING) during the second quarter, according to the company in its most recent Form 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 about 6.67% of Cingulate as of its most recent SEC filing. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.