Cingulate (NASDAQ:CING) Trading Down 2.1% – Here’s Why

Cingulate Inc. (NASDAQ:CING) shares traded down 2.1% during mid-day trading on Monday . The company traded as low as $4.12 and last traded at $4.18. 87,159 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 174,401 shares. The stock had previously closed at $4.27.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CING. Maxim Group upgraded Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Roth Mkm assumed coverage on Cingulate in a research note on Friday, January 10th. They set a “buy” rating and a $12.00 target price on the stock. Roth Capital raised shares of Cingulate to a “strong-buy” rating in a research report on Friday, January 10th. Finally, HC Wainwright boosted their price objective on shares of Cingulate from $8.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, January 30th.

Cingulate Stock Performance

The stock has a 50 day moving average price of $4.64 and a two-hundred day moving average price of $5.08.

Institutional Trading of Cingulate

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Cingulate in the third quarter worth about $106,000. Geode Capital Management LLC acquired a new stake in Cingulate in the 4th quarter worth approximately $135,000. Commonwealth Equity Services LLC lifted its holdings in Cingulate by 281.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock worth $212,000 after purchasing an additional 31,746 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its position in Cingulate by 50,000.0% during the fourth quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after purchasing an additional 5,000 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.