Cabaletta Bio (NASDAQ:CABA) Trading Down 2.4%

Cabaletta Bio, Inc. (NASDAQ:CABA)’s share price fell 2.4% during trading on Friday . The stock traded as low as $13.51 and last traded at $13.82. 133,499 shares were traded during trading, a decline of 72% from the average session volume of 472,912 shares. The stock had previously closed at $14.16.

Wall Street Analyst Weigh In

Several research firms recently commented on CABA. HC Wainwright raised their target price on Cabaletta Bio from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Guggenheim reaffirmed a “buy” rating and set a $34.00 target price on shares of Cabaletta Bio in a report on Monday, August 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.29.

Cabaletta Bio Price Performance

The firm has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $10.84. The company has a market capitalization of $530.27 million, a price-to-earnings ratio of -7.70 and a beta of 2.56.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.10. Research analysts predict that Cabaletta Bio, Inc. will post -1.51 EPS for the current year.

Insider Buying and Selling

In related news, insider Gwendolyn Binder sold 11,000 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $13.82, for a total transaction of $152,020.00. Following the transaction, the insider now owns 20,000 shares in the company, valued at $276,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 33,000 shares of company stock worth $442,530. 12.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Cabaletta Bio during the second quarter worth approximately $27,000. Barclays PLC raised its position in Cabaletta Bio by 239.6% in the fourth quarter. Barclays PLC now owns 4,146 shares of the company’s stock valued at $38,000 after purchasing an additional 2,925 shares during the period. Freedom Wealth Alliance LLC purchased a new stake in Cabaletta Bio in the fourth quarter valued at $41,000. Envestnet Asset Management Inc. raised its position in Cabaletta Bio by 21.9% in the second quarter. Envestnet Asset Management Inc. now owns 25,461 shares of the company’s stock valued at $329,000 after purchasing an additional 4,568 shares during the period. Finally, Advisor Group Holdings Inc. raised its position in Cabaletta Bio by 259.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,140 shares of the company’s stock valued at $84,000 after purchasing an additional 6,596 shares during the period.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease.