Cingulate (NASDAQ:CING) Rating Lowered to Sell at Wall Street Zen

Cingulate (NASDAQ:CING) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings lowered shares of Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Roth Capital set a $9.00 target price on Cingulate and gave the stock a “buy” rating in a report on Sunday, August 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cingulate presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Cingulate Stock Performance

Shares of NASDAQ CING opened at $4.26 on Friday. The business has a 50-day simple moving average of $4.92 and a two-hundred day simple moving average of $5.42. Cingulate has a 52 week low of $3.16 and a 52 week high of $11.89.

Cingulate (NASDAQ:CING) last issued its earnings results on Thursday, August 13th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.18. On average, equities research analysts expect that Cingulate will post -2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Cingulate

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Cingulate during the second quarter worth $291,000. Renaissance Technologies LLC bought a new position in shares of Cingulate in the 1st quarter worth $198,000. Kestra Advisory Services LLC increased its holdings in Cingulate by 14.8% in the 1st quarter. Kestra Advisory Services LLC now owns 140,000 shares of the company’s stock worth $869,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Cingulate in the first quarter worth $116,000. 41.31% of the stock is currently owned by institutional investors and hedge funds.

Cingulate Company Profile

Cingulate Inc (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose.

Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.