Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 89,200 shares, an increase of 132.9% from the October 15th total of 38,300 shares. Based on an average trading volume of 3,870,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 4.4% of the shares of the stock are short sold.

Cingulate Stock Performance

CING traded down $0.11 during midday trading on Thursday, hitting $4.22. 103,032 shares of the company traded hands, compared to its average volume of 1,166,503. The business has a 50 day simple moving average of $4.74 and a two-hundred day simple moving average of $3.04. Cingulate has a 52-week low of $1.80 and a 52-week high of $152.40.

Cingulate (NASDAQ:CING) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, topping the consensus estimate of ($2.22) by $0.39. Equities analysts anticipate that Cingulate will post -12.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC acquired a new stake in Cingulate Inc. (NASDAQ:CING) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned about 6.67% of Cingulate at the end of the most recent reporting period. 41.31% of the stock is currently owned by institutional investors.

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.