Cingulate Inc. (NASDAQ:CING) Short Interest Up 132.9% in October

Cingulate Inc. (NASDAQ:CING) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 89,200 shares, an increase of 132.9% from the October 15th total of 38,300 shares. Based on an average trading volume of 3,870,000 shares, the short-interest ratio is currently 0.0 days. Currently, 4.4% of the company’s stock are short sold.

Cingulate Stock Down 0.5 %

CING traded down $0.02 on Friday, hitting $4.20. The company had a trading volume of 51,680 shares, compared to its average volume of 1,161,484. Cingulate has a 1-year low of $1.80 and a 1-year high of $152.40. The company’s fifty day moving average price is $4.70 and its 200 day moving average price is $3.05.

Cingulate (NASDAQ:CING) last announced its earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, beating the consensus estimate of ($2.22) by $0.39. Research analysts forecast that Cingulate will post -9.26 EPS for the current year.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Jane Street Group LLC purchased a new position in shares of Cingulate Inc. (NASDAQ:CING) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned approximately 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.