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

Posted by Brian Wu on Apr 26th, 2024

Cingulate Inc. (NASDAQ:CING – Get Free Report) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 13,900 shares, a drop of 66.5% from the March 31st total of 41,500 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 308,600 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on Cingulate to $8.00 and gave the stock a “buy” rating in a research report on Friday, January 5th.

Read Our Latest Research Report on Cingulate

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Commonwealth Equity Services LLC bought a new stake in Cingulate Inc. (NASDAQ:CING – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 100,771 shares of the company’s stock, valued at approximately $71,000. Commonwealth Equity Services LLC owned approximately 0.64% of Cingulate at the end of the most recent reporting period. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Trading Up 4.8 %

Cingulate stock traded up $0.04 during midday trading on Friday, reaching $0.88. The stock had a trading volume of 8,653 shares, compared to its average volume of 306,203. Cingulate has a 12 month low of $0.75 and a 12 month high of $23.40. The company has a market capitalization of $4.41 million, a P/E ratio of -0.03 and a beta of -0.95. The company has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $4.07.

About Cingulate

(Get Free Report)

Cingulate Inc, a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders intended for children, adolescents, and adults.