Cabaletta Bio (NASDAQ:CABA) Insider Gwendolyn Binder Buys 11,312 Shares

Cabaletta Bio, Inc. (NASDAQ:CABA) insider Gwendolyn Binder bought 11,312 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was bought at an average cost of $2.19 per share, for a total transaction of $24,773.28. Following the completion of the acquisition, the insider owned 31,312 shares in the company, valued at $68,573.28. This trade represents a 56.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cabaletta Bio Stock Up 6.8%

NASDAQ CABA traded up $0.15 during trading hours on Wednesday, reaching $2.34. The company’s stock had a trading volume of 2,092,876 shares, compared to its average volume of 1,493,053. The company has a market capitalization of $225.25 million, a price-to-earnings ratio of -0.92 and a beta of 3.25. The firm’s 50-day moving average price is $2.29 and its 200-day moving average price is $2.11. Cabaletta Bio, Inc. has a 1 year low of $0.99 and a 1 year high of $3.67.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Monday, November 10th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Equities research analysts anticipate that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CABA. Matauro LLC purchased a new position in shares of Cabaletta Bio during the fourth quarter worth $121,000. SG Americas Securities LLC boosted its holdings in shares of Cabaletta Bio by 44.0% in the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock valued at $67,000 after buying an additional 9,365 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cabaletta Bio by 565.4% during the third quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company’s stock worth $1,258,000 after purchasing an additional 456,853 shares during the last quarter. Woodline Partners LP boosted its position in shares of Cabaletta Bio by 75.2% in the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock valued at $4,997,000 after purchasing an additional 916,884 shares during the period. Finally, XTX Topco Ltd grew its position in shares of Cabaletta Bio by 192.3% during the third quarter. XTX Topco Ltd now owns 284,299 shares of the company’s stock worth $665,000 after acquiring an additional 187,039 shares during the last quarter.

Analyst Ratings Changes

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