Short Interest in Cingulate Inc. (NASDAQ:CING) Drops By 13.5%

Cingulate Inc. (NASDAQ:CING) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 77,200 shares, a decrease of 13.5% from the October 31st total of 89,200 shares. Based on an average daily volume of 317,300 shares, the short-interest ratio is presently 0.2 days. Currently, 2.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Cingulate

An institutional investor recently bought a new position in Cingulate stock. Jane Street Group LLC acquired a new position in shares of Cingulate Inc. (NASDAQ:CING) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned 0.66% of Cingulate as of its most recent SEC filing. Institutional investors own 41.31% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group raised shares of Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Cingulate Trading Down 3.0 %

CING stock traded down $0.13 during midday trading on Tuesday, reaching $4.17. 45,189 shares of the company’s stock traded hands, compared to its average volume of 1,112,303. The company has a 50-day simple moving average of $4.46 and a two-hundred day simple moving average of $3.35. Cingulate has a 1-year low of $1.80 and a 1-year high of $152.40.

Cingulate (NASDAQ:CING) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, topping analysts’ consensus estimates of ($2.22) by $0.39. Analysts expect that Cingulate will post -9.26 EPS for the current fiscal year.

About Cingulate

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.