Cingulate (NASDAQ:CING) Raised to “Buy” at Maxim Group

Maxim Group upgraded shares of Cingulate (NASDAQ:CING) from a hold rating to a buy rating in a research note issued to investors on Wednesday,Benzinga reports.

Cingulate Price Performance

Shares of NASDAQ:CING opened at $4.48 on Wednesday. Cingulate has a 52-week low of $1.80 and a 52-week high of $152.40. The stock’s 50-day simple moving average is $4.57 and its two-hundred day simple moving average is $3.15.

Cingulate (NASDAQ:CING) last posted its earnings results on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, topping the consensus estimate of ($2.22) by $0.39. Equities analysts anticipate that Cingulate will post -9.26 earnings per share for the current year.

Institutional Trading of Cingulate

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

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.