Cingulate Inc. (NASDAQ:CING) Sees Large Decrease in Short Interest

Cingulate Inc. (NASDAQ:CING) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 77,200 shares, a decline of 13.5% from the October 31st total of 89,200 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 317,300 shares, the short-interest ratio is currently 0.2 days.

Cingulate Trading Down 2.3 %

NASDAQ:CING traded down $0.10 during trading hours on Tuesday, reaching $4.20. 28,185 shares of the company’s stock were exchanged, compared to its average volume of 1,112,226. Cingulate has a 12 month low of $1.80 and a 12 month high of $152.40. The business’s 50-day simple moving average is $4.46 and its two-hundred day simple moving average is $3.35.

Cingulate (NASDAQ:CING) last announced its earnings results on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, beating the consensus estimate of ($2.22) by $0.39. On average, research analysts anticipate 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. Armistice Capital LLC acquired a new stake in shares of Cingulate Inc. (NASDAQ:CING) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Maxim Group raised Cingulate from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.