Short Interest in Cingulate Inc. (NASDAQ:CING) Increases By 132.9%

Cingulate Inc. (NASDAQ:CING) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 89,200 shares, a growth of 132.9% from the October 15th total of 38,300 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 3,870,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Cingulate

An institutional investor recently bought a new position in Cingulate stock. Jane Street Group LLC purchased a new stake in shares of Cingulate Inc. (NASDAQ:CING) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 21,031 shares of the company’s stock, valued at approximately $106,000. Jane Street Group LLC owned about 0.66% of Cingulate at the end of the most recent reporting period. Institutional investors own 41.31% of the company’s stock.

Cingulate Stock Performance

Shares of Cingulate stock traded down $0.02 during trading on Friday, hitting $4.20. The stock had a trading volume of 51,680 shares, compared to its average volume of 1,161,484. Cingulate has a 1 year low of $1.80 and a 1 year high of $152.40. The stock has a 50 day simple moving average of $4.70 and a 200 day simple moving average of $3.05.

Cingulate (NASDAQ:CING) last announced its earnings results on Thursday, November 7th. The company reported ($1.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.22) by $0.39. As a group, equities research analysts predict that Cingulate will post -9.26 EPS 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.