Insider Buying: Cabaletta Bio (NASDAQ:CABA) Insider Acquires $50,325.90 in Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) insider Steve Gavel bought 22,170 shares of the stock in a transaction on Wednesday, January 21st. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $50,325.90. Following the acquisition, the insider owned 22,170 shares of the company’s stock, valued at $50,325.90. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cabaletta Bio Stock Up 8.2%

Cabaletta Bio stock opened at $3.18 on Friday. Cabaletta Bio, Inc. has a 52-week low of $0.99 and a 52-week high of $3.67. The company has a market cap of $306.11 million, a P/E ratio of -1.26 and a beta of 3.25. The business has a 50-day simple moving average of $2.32 and a two-hundred day simple moving average of $2.13.

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

Wall Street Analyst Weigh In

CABA has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Cabaletta Bio in a report on Friday, October 10th. They set a “buy” rating and a $14.00 price target for the company. Cantor Fitzgerald boosted their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.25.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently added to or reduced their stakes in CABA. Bain Capital Life Sciences Investors LLC boosted its position in shares of Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock worth $14,709,000 after acquiring an additional 6,916,237 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Cabaletta Bio during the 2nd quarter valued at about $3,036,000. Jennison Associates LLC grew its position in shares of Cabaletta Bio by 147.4% during the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after purchasing an additional 3,586,439 shares in the last quarter. Woodline Partners LP grew its position in shares of Cabaletta Bio by 75.2% during the third 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 in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Cabaletta Bio by 86.4% in the third quarter. Two Sigma Investments LP now owns 470,475 shares of the company’s stock worth $1,101,000 after purchasing an additional 218,118 shares during the last quarter.

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.