Armistice Capital LLC Buys Shares of 490,000 Cingulate Inc. (NASDAQ:CING)

Armistice Capital LLC purchased a new stake in shares of Cingulate Inc. (NASDAQ:CING) during the second quarter, HoldingsChannel.com reports. The fund purchased 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned about 0.07% of Cingulate as of its most recent filing with the SEC.

Cingulate Stock Performance

Shares of Cingulate stock opened at $5.14 on Friday. Cingulate Inc. has a twelve month low of $1.80 and a twelve month high of $179.98. The company’s 50 day moving average is $4.67 and its 200 day moving average is $1.68.

Cingulate (NASDAQ:CING) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($5.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.64) by $0.17. Equities analysts expect that Cingulate Inc. will post -16 EPS for the current fiscal year.

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.