Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Up 85.8% in October

Cabaletta Bio, Inc. (NASDAQ:CABA) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 11,220,000 shares, a growth of 85.8% from the September 30th total of 6,040,000 shares. Currently, 13.8% of the shares of the stock are short sold. Based on an average trading volume of 2,710,000 shares, the short-interest ratio is currently 4.1 days. Based on an average trading volume of 2,710,000 shares, the short-interest ratio is currently 4.1 days. Currently, 13.8% of the shares of the stock are short sold.

Cabaletta Bio Stock Up 46.2%

Shares of NASDAQ CABA opened at $3.61 on Monday. The firm has a 50-day simple moving average of $2.23 and a 200-day simple moving average of $1.84. The stock has a market capitalization of $330.17 million, a price-to-earnings ratio of -1.33 and a beta of 3.10. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $5.46.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, August 7th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.02). As a group, equities research analysts expect that Cabaletta Bio will post -2.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CABA shares. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research note on Friday, October 10th. Cantor Fitzgerald lifted their price target on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.11.

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. CRA Financial Services LLC increased its position 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 last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Cabaletta Bio during the second quarter valued at about $32,000. Callan Family Office LLC purchased a new position in shares of Cabaletta Bio in the first quarter valued at approximately $58,000. Comerica Bank boosted its stake in shares of Cabaletta Bio by 2,292.1% in the first 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 period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Cabaletta Bio by 695.6% in the second quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after purchasing an additional 44,621 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 CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.