HC Wainwright reiterated their buy rating on shares of Cingulate (NASDAQ:CING – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. HC Wainwright also issued estimates for Cingulate's Q4 2022 earnings at ($0.36) EPS, FY2022 earnings at ($1.51) EPS, Q1 2023 earnings at ($0.27) EPS, Q2 2023 earnings at ($0.23) EPS, Q3 2023 earnings at ($0.24) EPS, Q4 2023 earnings at ($0.25) EPS and FY2023 earnings at ($0.98) EPS.
A number of other research firms have also weighed in on CING. Maxim Group started coverage on Cingulate in a research report on Tuesday, November 22nd. They set a buy rating for the company. Ascendiant Capital Markets started coverage on Cingulate in a research report on Monday, October 3rd. They set a buy rating for the company.
Get Cingulate alerts:Cingulate Stock Up 2.6 %
CING opened at $0.98 on Tuesday. The stock has a market cap of $11.03 million and a PE ratio of -0.66. The business has a 50 day moving average of $0.96 and a 200-day moving average of $1.21. Cingulate has a 52 week low of $0.66 and a 52 week high of $2.48.
Cingulate (NASDAQ:CING – Get Rating) last released its earnings results on Monday, November 14th. The company reported ($0.36) EPS for the quarter.Insiders Place Their Bets
In other Cingulate news, Director Peter J. Werth bought 28,934 shares of Cingulate stock in a transaction on Tuesday, December 13th. The stock was acquired at an average price of $0.98 per share, with a total value of $28,355.32. Following the acquisition, the director now owns 975,165 shares in the company, valued at $955,661.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cingulate news, Director Peter J. Werth bought 28,934 shares of Cingulate stock in a transaction on Tuesday, December 13th. The stock was acquired at an average price of $0.98 per share, with a total value of $28,355.32. Following the acquisition, the director now owns 975,165 shares in the company, valued at $955,661.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregg Wm Givens bought 85,000 shares of Cingulate stock in a transaction on Tuesday, November 22nd. The stock was acquired at an average cost of $0.88 per share, with a total value of $74,800.00. Following the acquisition, the director now owns 154,318 shares in the company, valued at approximately $135,799.84. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 141,388 shares of company stock valued at $129,998. Corporate insiders own 31.28% of the company's stock.
Institutional Trading of Cingulate
Several large investors have recently modified their holdings of the company. Eagle Asset Management Inc. grew its holdings in shares of Cingulate by 124.5% in the third quarter. Eagle Asset Management Inc. now owns 107,527 shares of the company's stock worth $115,000 after acquiring an additional 59,632 shares during the period. Creative Planning bought a new stake in shares of Cingulate in the second quarter worth $34,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Cingulate in the first quarter worth $100,000. Institutional investors 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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