Cingulate Inc. (NASDAQ:CING) Short Interest Up 85.4% in November

Posted by Jessica Moore on Dec 14th, 2024

Cingulate Inc. (NASDAQ:CING – Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 143,100 shares, a growth of 85.4% from the November 15th total of 77,200 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily volume of 179,200 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Maxim Group upgraded shares of Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Get Our Latest Analysis on Cingulate

Cingulate Stock Down 0.2 %

Cingulate stock traded down $0.01 during trading hours on Friday, hitting $4.21. The company had a trading volume of 37,020 shares, compared to its average volume of 1,077,134. Cingulate has a one year low of $1.80 and a one year high of $152.40. The firm has a 50-day moving average of $4.31 and a 200 day moving average of $3.57.

Cingulate (NASDAQ:CING – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.22) by $0.39. As a group, analysts expect that Cingulate will post -9.26 EPS for the current year.

Institutional Investors Weigh In On 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 – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned 0.66% of Cingulate as of its most recent filing with the Securities and Exchange Commission (SEC). 41.31% of the stock is currently owned by institutional investors and hedge funds.

Cingulate Company Profile

(Get Free Report)

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.