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

Cingulate Inc. (NASDAQ:CING) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 27,900 shares, a drop of 74.4% from the September 15th total of 108,800 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is currently 0.0 days.

Cingulate Trading Up 7.2 %

Cingulate stock traded up $0.32 during mid-day trading on Friday, hitting $4.77. The stock had a trading volume of 184,913 shares, compared to its average volume of 1,285,860. Cingulate has a one year low of $1.80 and a one year high of $156.00. The firm’s 50 day moving average is $5.79 and its 200 day moving average is $2.48.

Cingulate (NASDAQ:CING) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($5.47) EPS for the quarter, beating the consensus estimate of ($5.64) by $0.17. On average, sell-side analysts anticipate that Cingulate will post -12.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC bought a new position in Cingulate Inc. (NASDAQ:CING) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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. 41.31% of the stock is owned by institutional investors and hedge funds.

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.