Insider Buying: Cabaletta Bio (NASDAQ:CABA) Director Buys 11,061 Shares of Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) Director Mark Simon purchased 11,061 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were acquired at an average price of $2.28 per share, with a total value of $25,219.08. Following the completion of the acquisition, the director owned 147,205 shares of the company’s stock, valued at approximately $335,627.40. The trade was a 8.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cabaletta Bio Stock Up 6.8%

NASDAQ CABA traded up $0.15 during midday trading on Wednesday, hitting $2.34. The company had a trading volume of 2,092,876 shares, compared to its average volume of 1,493,053. The firm has a fifty day simple moving average of $2.29 and a two-hundred day simple moving average of $2.11. 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 cap of $225.25 million, a price-to-earnings ratio of -0.92 and a beta of 3.25.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. As a group, equities analysts predict that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors have recently modified their holdings of the stock. CRA Financial Services LLC raised its position 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 period. SG Americas Securities LLC raised its stake in Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after buying an additional 9,365 shares during the period. Almitas Capital LLC increased its holdings in shares of Cabaletta Bio by 5.4% in the third quarter. Almitas Capital LLC now owns 387,491 shares of the company’s stock worth $907,000 after acquiring an additional 20,000 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Cabaletta Bio during the 3rd quarter valued at about $47,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in Cabaletta Bio during the 2nd quarter worth approximately $32,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a report on Friday, October 10th. Cantor Fitzgerald lifted their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Jefferies Financial Group initiated coverage on Cabaletta Bio in a research note on Friday, October 10th. They issued a “buy” rating and a $14.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cabaletta Bio currently has an average rating of “Moderate Buy” and an average target price 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.