Cingulate Inc. (NASDAQ:CING) Short Interest Down 66.5% in April

Cingulate Inc. (NASDAQ:CING) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 13,900 shares, a decrease of 66.5% from the March 31st total of 41,500 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 308,600 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on Cingulate to $8.00 and gave the company a “buy” rating in a research note on Friday, January 5th.

Cingulate Trading Up 4.8 %

NASDAQ:CING traded up $0.04 during trading hours on Friday, hitting $0.88. 8,653 shares of the company were exchanged, compared to its average volume of 306,203. The stock has a market capitalization of $4.41 million, a price-to-earnings ratio of -0.03 and a beta of -0.95. Cingulate has a one year low of $0.75 and a one year high of $23.40. The company has a fifty day simple moving average of $1.07 and a 200 day simple moving average of $4.07.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC acquired a new position in Cingulate Inc. (NASDAQ:CING) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 754,792 shares of the company’s stock, valued at approximately $535,000. Armistice Capital LLC owned approximately 4.82% 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.