Roth Mkm Cuts Cingulate (NASDAQ:CING) Price Target to $14.00
by Tristan Rich · The Markets DailyCingulate (NASDAQ:CING – Free Report) had its target price trimmed by Roth Mkm from $16.00 to $14.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.
Other research analysts have also issued reports about the stock. Ascendiant Capital Markets reduced their target price on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.
Get Our Latest Stock Report on Cingulate
Cingulate Stock Performance
CING stock opened at $6.36 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $51.83 million, a price-to-earnings ratio of -1.47 and a beta of -0.77. Cingulate has a 1 year low of $3.20 and a 1 year high of $11.89. The stock’s fifty day moving average is $6.66 and its two-hundred day moving average is $4.90.
Cingulate (NASDAQ:CING – Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.28). On average, research analysts predict that Cingulate will post -11.69 EPS for the current year.
Insider Buying and Selling at Cingulate
In related news, CEO Shane J. Schaffer acquired 6,809 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average cost of $5.04 per share, for a total transaction of $34,317.36. Following the completion of the purchase, the chief executive officer directly owned 10,175 shares in the company, valued at $51,282. This trade represents a 202.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter J. Werth acquired 19,455 shares of Cingulate stock in a transaction that occurred on Friday, February 6th. The stock was bought at an average cost of $5.04 per share, with a total value of $98,053.20. Following the acquisition, the director directly owned 117,449 shares of the company’s stock, valued at approximately $591,942.96. This trade represents a 19.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 33,074 shares of company stock valued at $166,693. Company insiders own 4.33% of the company’s stock.
Hedge Funds Weigh In On Cingulate
Several large investors have recently bought and sold shares of CING. XTX Topco Ltd bought a new stake in shares of Cingulate during the 4th quarter worth about $90,000. Quadrature Capital Ltd bought a new position in shares of Cingulate in the fourth quarter valued at approximately $66,000. Kestra Advisory Services LLC increased its stake in shares of Cingulate by 29.8% during the fourth quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock valued at $529,000 after acquiring an additional 27,979 shares during the period. DRW Securities LLC bought a new stake in Cingulate during the fourth quarter worth approximately $255,000. Finally, Geode Capital Management LLC raised its holdings in Cingulate by 43.9% during the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after purchasing an additional 18,629 shares in the last quarter. Institutional investors and hedge funds 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.