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

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

Cingulate Trading Up 9.3 %

CING stock opened at $4.48 on Wednesday. Cingulate has a 12-month low of $1.80 and a 12-month high of $152.40. The firm has a 50 day moving average of $4.57 and a 200-day moving average of $3.15.

Cingulate (NASDAQ:CING) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.22) by $0.39. Sell-side analysts forecast that Cingulate will post -9.26 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

An institutional investor recently bought a new position in Cingulate stock. Armistice Capital LLC purchased a new position in shares of Cingulate Inc. (NASDAQ:CING) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate at the end of the most recent quarter. Hedge funds and other institutional investors own 41.31% of the company’s stock.

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.