Cingulate (NASDAQ:CING) CFO Jennifer Callahan Purchases 4,864 Shares

Cingulate Inc. (NASDAQ:CING) CFO Jennifer Callahan purchased 4,864 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were purchased at an average price of $5.04 per share, with a total value of $24,514.56. Following the purchase, the chief financial officer directly owned 5,059 shares in the company, valued at $25,497.36. This trade represents a 2,494.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cingulate Price Performance

Shares of NASDAQ:CING traded down $0.40 on Tuesday, hitting $6.82. The company’s stock had a trading volume of 275,962 shares, compared to its average volume of 363,452. The company has a market capitalization of $50.81 million, a PE ratio of -1.88 and a beta of -0.75. Cingulate Inc. has a 1 year low of $3.20 and a 1 year high of $7.92. The company has a 50-day simple moving average of $4.86 and a 200 day simple moving average of $4.29.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.55). On average, equities research analysts expect that Cingulate Inc. will post -11.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Ascendiant Capital Markets decreased their price objective on shares of Cingulate from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, December 8th. Roth Mkm reduced their price target on Cingulate from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Hedge Funds Weigh In On Cingulate

A number of hedge funds have recently added to or reduced their stakes in CING. XTX Topco Ltd bought a new position in Cingulate during the 2nd quarter worth about $45,000. Bank of America Corp DE lifted its position in shares of Cingulate by 283.1% during the second quarter. Bank of America Corp DE now owns 7,501 shares of the company’s stock valued at $31,000 after buying an additional 5,543 shares during the last quarter. Quantum Private Wealth LLC boosted its holdings in shares of Cingulate by 140.0% in the 3rd quarter. Quantum Private Wealth LLC now owns 24,000 shares of the company’s stock valued at $94,000 after buying an additional 14,000 shares in the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Cingulate during the fourth quarter valued at $43,000. Finally, Geode Capital Management LLC increased its position in shares of Cingulate by 43.9% in the 4th quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after acquiring an additional 18,629 shares during the 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.