Cingulate Inc. (NASDAQ:CING) Sees Significant Drop in Short Interest

Cingulate Inc. (NASDAQ:CING) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 108,800 shares, a decrease of 46.9% from the August 31st total of 205,000 shares. Based on an average daily trading volume, of 3,830,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 5.4% of the shares of the company are sold short.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC acquired a new position in Cingulate Inc. (NASDAQ:CING) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned 6.67% of Cingulate as of its most recent SEC filing. Institutional investors own 41.31% of the company’s stock.

Cingulate Stock Up 0.4 %

Shares of Cingulate stock traded up $0.02 during trading on Thursday, hitting $5.17. 116,927 shares of the stock were exchanged, compared to its average volume of 1,354,605. Cingulate has a 12 month low of $1.80 and a 12 month high of $179.98. The stock’s fifty day moving average is $4.67 and its 200 day moving average is $1.68.

Cingulate (NASDAQ:CING) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($5.47) EPS for the quarter, beating the consensus estimate of ($5.64) by $0.17. As a group, equities analysts expect that Cingulate will post -16 earnings per share for the current year.

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.