Cingulate Inc. (NASDAQ:CING) Short Interest Down 22.1% in March

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 92,900 shares, a drop of 22.1% from the February 28th total of 119,200 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 137,700 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CING. Roth Capital raised Cingulate to a “strong-buy” rating in a report on Friday, January 10th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Cingulate in a research note on Thursday, March 6th. Finally, Roth Mkm began coverage on shares of Cingulate in a report on Friday, January 10th. They set a “buy” rating and a $12.00 target price for the company.

Cingulate Trading Down 1.1 %

Shares of CING stock opened at $4.30 on Tuesday. Cingulate has a twelve month low of $1.80 and a twelve month high of $20.83. The stock has a market cap of $13.81 million, a P/E ratio of -0.29 and a beta of -0.83. The stock has a 50 day moving average of $4.27 and a 200 day moving average of $4.44.

Institutional Investors Weigh In On Cingulate

A number of hedge funds and other institutional investors have recently made changes to their positions in CING. Commonwealth Equity Services LLC lifted its stake in shares of Cingulate by 281.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock valued at $212,000 after purchasing an additional 31,746 shares during the period. Geode Capital Management LLC acquired a new position in shares of Cingulate in the fourth quarter worth about $135,000. Jane Street Group LLC acquired a new position in shares of Cingulate in the third quarter worth about $106,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of Cingulate by 50,000.0% during the 4th quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 41.31% of the company’s stock.

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.