HC Wainwright Reaffirms Buy Rating for Cingulate (NASDAQ:CING)

Cingulate (NASDAQ:CING)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 418.13% from the stock’s previous close.

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

Cingulate Price Performance

Shares of CING opened at $3.86 on Thursday. The firm has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $4.95. Cingulate has a twelve month low of $1.80 and a twelve month high of $20.83.

Institutional Trading of Cingulate

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew 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 worth $212,000 after acquiring an additional 31,746 shares during the period. Geode Capital Management LLC bought a new stake in shares of Cingulate in the fourth quarter worth approximately $135,000. Jane Street Group LLC bought a new stake in shares of Cingulate in the third quarter worth approximately $106,000. Finally, AlphaMark Advisors LLC grew its stake in shares of Cingulate by 50,000.0% in the fourth quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after acquiring an additional 5,000 shares during the period. 41.31% of the stock is currently owned by institutional investors.

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.