Cingulate (NASDAQ:CING) Upgraded at Maxim Group

Maxim Group upgraded shares of Cingulate (NASDAQ:CING) from a hold rating to a buy rating in a report published on Wednesday morning, Marketbeat.com reports.

Cingulate Stock Performance

NASDAQ CING opened at $4.72 on Wednesday. The company’s 50-day moving average price is $4.53 and its 200-day moving average price is $3.21. Cingulate has a 12 month low of $1.80 and a 12 month high of $152.40.

Cingulate (NASDAQ:CING) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, topping analysts’ consensus estimates of ($2.22) by $0.39. As a group, equities research analysts expect that Cingulate will post -9.26 earnings per share for the current year.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Jane Street Group LLC acquired a new position in Cingulate Inc. (NASDAQ:CING) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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. 41.31% of the stock is owned by institutional investors.

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.