Cingulate (NASDAQ:CING) Upgraded at Maxim Group

Maxim Group upgraded shares of Cingulate (NASDAQ:CING) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

Cingulate Stock Performance

Shares of Cingulate stock opened at $4.72 on Wednesday. The business has a 50-day moving average of $4.53 and a two-hundred day moving average of $3.19. Cingulate has a 1 year low of $1.80 and a 1 year high of $152.40.

Cingulate (NASDAQ:CING) last posted its earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.22) by $0.39. On average, sell-side analysts predict that Cingulate will post -9.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Jane Street Group LLC purchased a new stake in Cingulate Inc. (NASDAQ:CING) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned 0.66% of Cingulate at the end of the most recent reporting period. Hedge funds and other 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.