Key Points
- Cingulate director Thomas Jeffrey Hargroves bought 97,276 shares on Feb. 13 for about $490,271 at an average price of $5.04 per share. After the purchase, he owned 97,468 shares valued at roughly $491,239.
- The stock was up 0.9% and opened at $4.53, while remaining well below its 52-week high of $11.89. Cingulate has a market cap of about $61 million and is trading below its 50-day and 200-day moving averages.
- Cingulate recently reported a quarterly loss of $0.95 per share, missing analyst expectations, and Wall Street currently has a Moderate Buy consensus with an average price target of $27.33.
Cingulate Inc. (NASDAQ:CING - Get Free Report) Director Thomas Jeffrey Hargroves purchased 97,276 shares of the stock in a transaction on Friday, February 13th. The stock was acquired at an average cost of $5.04 per share, with a total value of $490,271.04. Following the acquisition, the director owned 97,468 shares of the company's stock, valued at approximately $491,238.72. This represents a 50,664.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Cingulate Stock Up 0.9%
Cingulate stock opened at $4.53 on Tuesday. Cingulate Inc. has a 52 week low of $3.16 and a 52 week high of $11.89. The company has a market capitalization of $61.02 million, a price-to-earnings ratio of -1.07 and a beta of -0.85. The stock has a 50-day moving average price of $5.14 and a 200 day moving average price of $5.39.
Cingulate (NASDAQ:CING - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.42). Research analysts anticipate that Cingulate Inc. will post -2.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Cingulate
Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in Cingulate during the 4th quarter worth about $90,000. Quadrature Capital Ltd acquired a new position in Cingulate during the 4th quarter worth about $66,000. Kestra Advisory Services LLC lifted its stake in Cingulate by 29.8% during the 4th quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company's stock worth $529,000 after acquiring an additional 27,979 shares in the last quarter. DRW Securities LLC acquired a new position in Cingulate during the 4th quarter worth about $255,000. Finally, Geode Capital Management LLC lifted its stake in 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 acquiring an additional 18,629 shares in the last quarter. Institutional investors and hedge funds own 41.31% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CING. Ascendiant Capital Markets lowered their price objective on Cingulate from $55.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Cingulate in a research note on Tuesday, May 26th. Weiss Ratings raised Cingulate from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. Wall Street Zen lowered Cingulate from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $10.00 price target on shares of Cingulate in a research note on Tuesday, May 19th. Three investment 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 currently has an average rating of "Moderate Buy" and an average price target of $27.33.
Check Out Our Latest Stock Analysis on Cingulate
About Cingulate
(
Get Free Report)
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.
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