Cabaletta Bio (NASDAQ:CABA) Sees Unusually-High Trading Volume – What’s Next?

Cabaletta Bio, Inc. (NASDAQ:CABA) shares saw an uptick in trading volume on Friday . Approximately 2,422,055 shares traded hands during mid-day trading, a decline of 37% from the previous session’s volume of 3,834,662 shares.The stock last traded at $3.4650 and had previously closed at $3.48.

Analysts Set New Price Targets

Several brokerages have issued reports on CABA. Wells Fargo & Company dropped their price target on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen lowered shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research report on Tuesday. Finally, TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.33.

Cabaletta Bio Stock Down 1.6%

The firm’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.12. The firm has a market capitalization of $580.67 million, a PE ratio of -2.18 and a beta of 3.27.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. On average, equities research analysts forecast that Cabaletta Bio, Inc. will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently modified their holdings of CABA. HighTower Advisors LLC bought a new position in Cabaletta Bio in the second quarter worth about $34,000. Susquehanna Fundamental Investments LLC bought a new stake in Cabaletta Bio during the 2nd quarter valued at approximately $476,000. Two Sigma Securities LLC purchased a new position in shares of Cabaletta Bio during the 2nd quarter worth approximately $83,000. Wellington Management Group LLP raised its position in shares of Cabaletta Bio by 15.6% in the 2nd quarter. Wellington Management Group LLP now owns 286,212 shares of the company’s stock worth $890,000 after acquiring an additional 38,553 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of Cabaletta Bio in the 2nd quarter worth approximately $2,852,181.

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.