Shares of Cingulate Inc. (NASDAQ:CING – Get Rating) were down 10.8% during mid-day trading on Monday . The stock traded as low as $0.90 and last traded at $0.95. Approximately 151,205 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 126,455 shares. The stock had previously closed at $1.06.

Analyst Ratings Changes

Several equities research analysts recently commented on CING shares. Ascendiant Capital Markets initiated coverage on Cingulate in a report on Monday, October 3rd. They issued a "buy" rating for the company. Maxim Group initiated coverage on Cingulate in a report on Tuesday, November 22nd. They issued a "buy" rating on the stock.

Cingulate Stock Performance

The company has a market cap of $10.69 million and a P/E ratio of -0.64. The business's fifty day moving average is $0.97 and its two-hundred day moving average is $1.23.

Insider Activity at Cingulate

In related news, Director Peter J. Werth bought 28,934 shares of the company's stock in a transaction dated Tuesday, December 13th. The shares were acquired at an average price of $0.98 per share, for a total transaction of $28,355.32. Following the completion of the transaction, the director now directly owns 975,165 shares in the company, valued at $955,661.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Gregg Wm Givens purchased 85,000 shares of Cingulate stock in a transaction dated Tuesday, November 22nd. The shares were purchased at an average price of $0.88 per share, with a total value of $74,800.00. Following the transaction, the director now owns 154,318 shares in the company, valued at $135,799.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter J. Werth bought 28,934 shares of the business's stock in a transaction on Tuesday, December 13th. The stock was purchased at an average cost of $0.98 per share, for a total transaction of $28,355.32. Following the transaction, the director now owns 975,165 shares of the company's stock, valued at $955,661.70. The disclosure for this purchase can be found here. Insiders bought a total of 141,388 shares of company stock worth $129,998 in the last three months. Company insiders own 31.28% of the company's stock.

Hedge Funds Weigh In On Cingulate

A number of institutional investors and hedge funds have recently modified their holdings of CING. Eagle Asset Management Inc. lifted its stake in Cingulate by 124.5% in the third quarter. Eagle Asset Management Inc. now owns 107,527 shares of the company's stock valued at $115,000 after buying an additional 59,632 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Cingulate during the first quarter worth $100,000. Finally, Creative Planning acquired a new position in Cingulate during the second quarter worth $34,000. Institutional investors and hedge funds own 2.35% of the company's stock.

About Cingulate

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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.

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