Cingulate (NASDAQ:CING) Earns Buy Rating from Analysts at Maxim Group

Maxim Group initiated coverage on shares of Cingulate (NASDAQ:CINGGet Rating) in a report released on Tuesday morning, The Fly reports. The firm issued a buy rating on the stock.

Separately, Ascendiant Capital Markets initiated coverage on shares of Cingulate in a research report on Monday, October 3rd. They set a buy rating on the stock.

Cingulate Stock Up 4.0 %

CING stock opened at $0.91 on Tuesday. Cingulate has a twelve month low of $0.66 and a twelve month high of $5.15. The stock has a market capitalization of $10.24 million and a price-to-earnings ratio of -0.61. The firm’s fifty day simple moving average is $1.08 and its two-hundred day simple moving average is $1.30.

Insider Activity

In other Cingulate news, Director Peter J. Werth acquired 74,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was bought at an average cost of $1.52 per share, with a total value of $113,240.00. Following the completion of the purchase, the director now directly owns 946,231 shares in the company, valued at $1,438,271.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.28% of the company’s stock.

Institutional Trading of Cingulate

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in Cingulate in the first quarter worth about $100,000. Creative Planning purchased a new stake in Cingulate in the second quarter worth about $34,000. Eagle Asset Management Inc. lifted its stake in 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. Finally, Lynwood Capital Management Inc. lifted its stake in Cingulate by 80.8% in the first quarter. Lynwood Capital Management Inc. now owns 225,994 shares of the company’s stock worth $445,000 after acquiring an additional 100,994 shares during the period. 5.72% of the stock is owned by hedge funds and other institutional investors.

About Cingulate

(Get Rating)

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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