Cabaletta Bio (NASDAQ:CABA) Director Acquires $50,222.25 in Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) Director Shawn Tomasello bought 22,725 shares of Cabaletta Bio stock in a transaction on Wednesday, January 21st. The stock was purchased at an average price of $2.21 per share, with a total value of $50,222.25. Following the completion of the acquisition, the director directly owned 22,725 shares of the company’s stock, valued at $50,222.25. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $3.18 on Friday. The company’s 50-day simple moving average is $2.32 and its 200-day simple moving average is $2.13. Cabaletta Bio, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $3.67. The stock has a market capitalization of $306.11 million, a P/E ratio of -1.26 and a beta of 3.25.

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

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently bought and sold shares of CABA. Catalyst Funds Management Pty Ltd acquired a new position in Cabaletta Bio in the 2nd quarter worth approximately $32,000. CRA Financial Services LLC boosted its holdings in shares of Cabaletta Bio by 36.4% in the 3rd 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 last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Cabaletta Bio in the third quarter worth $47,000. Comerica Bank raised its holdings in shares of Cabaletta Bio by 2,292.1% during the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after purchasing an additional 39,860 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Cabaletta Bio by 44.0% during the fourth quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock valued at $67,000 after purchasing an additional 9,365 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research note on Friday, October 10th. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a report on Friday, October 10th. They set a “buy” rating and a $14.00 price objective on the stock. Cantor Fitzgerald lifted their target price on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company 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.