Cingulate (NASDAQ:CING) Director Thomas Jeffrey Hargroves Acquires 97,276 Shares

Cingulate Inc. (NASDAQ:CING) Director Thomas Jeffrey Hargroves acquired 97,276 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average cost of $5.04 per share, for a total transaction of $490,271.04. Following the completion of the transaction, the director directly owned 97,468 shares of the company’s stock, valued at $491,238.72. The trade was a 50,664.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Cingulate Price Performance

Cingulate stock opened at $4.53 on Tuesday. Cingulate Inc. has a one year low of $3.16 and a one year high of $11.89. The stock has a market capitalization of $61.02 million, a PE ratio of -1.07 and a beta of -0.85. The business’s fifty day moving average is $5.14 and its 200 day moving average is $5.39.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.42). As a group, sell-side analysts expect that Cingulate Inc. will post -2.38 EPS for the current fiscal year.

Institutional Trading of Cingulate

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Cingulate during the 4th quarter valued at $90,000. Quadrature Capital Ltd bought a new position in Cingulate in the 4th quarter valued at $66,000. Kestra Advisory Services LLC grew its position in Cingulate by 29.8% in the 4th 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 last quarter. DRW Securities LLC bought a new position in Cingulate in the 4th quarter valued at $255,000. Finally, Geode Capital Management LLC grew its position in shares of Cingulate by 43.9% during the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock worth $265,000 after buying an additional 18,629 shares in the last quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CING. Ascendiant Capital Markets cut their price target on Cingulate from $55.00 to $52.00 and set a “buy” rating for the company in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Cingulate in a research report on Tuesday, May 26th. Wall Street Zen cut Cingulate from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cingulate in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised Cingulate from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

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.