Insider Buying: Cabaletta Bio (NASDAQ:CABA) Insider Purchases 11,312 Shares of Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) insider Gwendolyn Binder acquired 11,312 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was acquired at an average price of $2.19 per share, with a total value of $24,773.28. Following the transaction, the insider directly owned 31,312 shares of the company’s stock, valued at $68,573.28. This represents a 56.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cabaletta Bio Stock Performance

NASDAQ:CABA traded up $0.15 during mid-day trading on Wednesday, hitting $2.34. 2,092,876 shares of the company’s stock traded hands, compared to its average volume of 1,493,053. Cabaletta Bio, Inc. has a 1 year low of $0.99 and a 1 year high of $3.67. The company has a market cap of $225.25 million, a PE ratio of -0.92 and a beta of 3.25. The firm’s 50 day simple moving average is $2.29 and its 200 day simple moving average is $2.11.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. On average, research analysts expect that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Catalyst Funds Management Pty Ltd bought a new stake in Cabaletta Bio in the 2nd quarter valued at $32,000. CRA Financial Services LLC lifted its holdings in shares of Cabaletta Bio by 36.4% during the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. Jones Financial Companies Lllp bought a new stake in Cabaletta Bio during the third quarter worth about $47,000. Comerica Bank raised its position in Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after purchasing an additional 39,860 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Cabaletta Bio by 44.0% during the fourth quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares during the last quarter.

Analyst Upgrades and Downgrades

CABA has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, October 8th. Cantor Fitzgerald increased their price target on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research note on Friday, October 10th. They issued a “buy” rating and a $14.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cabaletta Bio currently has an average rating of “Moderate Buy” and an average price target of $16.25.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.