Jane Street Group LLC Invests $106,000 in Cingulate Inc. (NASDAQ:CING)

Jane Street Group LLC purchased a new position in shares of Cingulate Inc. (NASDAQ:CING) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Separately, Armistice Capital LLC acquired a new stake in Cingulate in the second quarter valued at $157,000. 41.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CING shares. Roth Mkm began coverage on shares of Cingulate in a research report on Friday, January 10th. They issued a “buy” rating and a $12.00 target price for the company. Maxim Group upgraded Cingulate from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Roth Capital upgraded Cingulate to a “strong-buy” rating in a report on Friday, January 10th.

Cingulate Trading Down 0.2 %

CING opened at $4.62 on Wednesday. The company’s 50-day moving average price is $4.40 and its 200 day moving average price is $4.21. Cingulate Inc. has a fifty-two week low of $1.80 and a fifty-two week high of $84.81.

Cingulate (NASDAQ:CING) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.22) by $0.39. Equities analysts expect that Cingulate Inc. will post -9.26 EPS for the current fiscal 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.