Roth Mkm Issues Pessimistic Forecast for Cingulate (NASDAQ:CING) Stock Price

Cingulate (NASDAQ:CING) had its price target decreased by Roth Mkm from $16.00 to $14.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price indicates a potential upside of 108.64% from the stock’s current price.

A number of other analysts also recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cingulate in a report on Wednesday, January 21st. Ascendiant Capital Markets reduced their target price on Cingulate from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.00.

Cingulate Stock Performance

Shares of CING stock opened at $6.71 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $54.69 million, a price-to-earnings ratio of -1.55 and a beta of -0.77. Cingulate has a one year low of $3.20 and a one year high of $11.89. The company has a 50 day moving average price of $6.64 and a 200 day moving average price of $4.89.

Cingulate (NASDAQ:CING) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.28). Sell-side analysts anticipate that Cingulate will post -11.69 EPS for the current year.

Insider Buying and Selling

In other Cingulate news, CEO Shane J. Schaffer acquired 6,809 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $5.04 per share, for a total transaction of $34,317.36. Following the completion of the purchase, the chief executive officer directly owned 10,175 shares in the company, valued at $51,282. This represents a 202.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Werth acquired 19,455 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was acquired at an average cost of $5.04 per share, with a total value of $98,053.20. Following the transaction, the director directly owned 117,449 shares of the company’s stock, valued at approximately $591,942.96. This represents a 19.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 33,074 shares of company stock worth $166,693. 4.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Cingulate

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Cingulate in the 4th quarter valued at $90,000. Quadrature Capital Ltd acquired a new position in shares of Cingulate during the fourth quarter worth about $66,000. Kestra Advisory Services LLC boosted its position in shares of Cingulate by 29.8% in the fourth quarter. Kestra Advisory Services LLC now owns 122,000 shares of the company’s stock worth $529,000 after buying an additional 27,979 shares during the period. DRW Securities LLC purchased a new stake in shares of Cingulate in the fourth quarter worth about $255,000. Finally, Geode Capital Management LLC grew its stake in shares of Cingulate by 43.9% in the fourth quarter. Geode Capital Management LLC now owns 61,035 shares of the company’s stock valued at $265,000 after buying an additional 18,629 shares in the last quarter. 41.31% of the stock is owned by hedge funds and other institutional investors.

Cingulate Company Profile

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.