Short Interest in Cingulate Inc. (NASDAQ:CING) Rises By 24.8%

Cingulate Inc. (NASDAQ:CING) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 133,400 shares, a growth of 24.8% from the January 31st total of 106,900 shares. Based on an average daily volume of 141,800 shares, the short-interest ratio is currently 0.9 days. Approximately 4.3% of the shares of the stock are sold short.

Cingulate Trading Down 0.5 %

Shares of CING traded down $0.02 during trading hours on Thursday, hitting $3.74. The stock had a trading volume of 46,359 shares, compared to its average volume of 163,289. Cingulate has a 12-month low of $1.80 and a 12-month high of $20.83. The company’s fifty day simple moving average is $4.59 and its 200 day simple moving average is $5.02.

Analysts Set New Price Targets

CING has been the subject of several analyst reports. Roth Mkm began coverage on Cingulate in a research note on Friday, January 10th. They issued a “buy” rating and a $12.00 target price for the company. Maxim Group raised shares of Cingulate from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Cingulate in a research report on Thursday. Finally, Roth Capital upgraded shares of Cingulate to a “strong-buy” rating in a report on Friday, January 10th.

Institutional Investors Weigh In On Cingulate

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its holdings in shares of Cingulate by 50,000.0% during the 4th quarter. AlphaMark Advisors LLC now owns 5,010 shares of the company’s stock worth $25,000 after purchasing an additional 5,000 shares during the period. Jane Street Group LLC purchased a new position in Cingulate in the third quarter valued at about $106,000. Geode Capital Management LLC acquired a new position in shares of Cingulate during the fourth quarter worth about $135,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Cingulate by 281.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,022 shares of the company’s stock worth $212,000 after buying an additional 31,746 shares during the period. 41.31% of the stock is currently owned by institutional investors and hedge funds.

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.