Cingulate (NASDAQ:CING) Trading Up 0.8%

Cingulate Inc. (NASDAQ:CING)’s stock price shot up 0.8% on Monday . The company traded as high as $0.94 and last traded at $0.89. 72,593 shares were traded during mid-day trading, a decline of 77% from the average session volume of 320,454 shares. The stock had previously closed at $0.88.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on shares of Cingulate to $8.00 and gave the stock a “buy” rating in a report on Friday, January 5th.

Cingulate Stock Performance

The firm has a market capitalization of $4.36 million, a PE ratio of -0.03 and a beta of -0.95. The business’s 50 day moving average is $1.08 and its two-hundred day moving average is $4.16.

Institutional Investors Weigh In On Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Commonwealth Equity Services LLC bought a new position in shares of Cingulate Inc. (NASDAQ:CING) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,771 shares of the company’s stock, valued at approximately $71,000. Commonwealth Equity Services LLC owned 0.64% of Cingulate at the end of the most recent quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

Cingulate Company Profile

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 intended for children, adolescents, and adults.