Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Update

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 9,870,000 shares, a growth of 16.1% from the March 31st total of 8,500,000 shares. Based on an average daily volume of 954,800 shares, the short-interest ratio is currently 10.3 days.

Cabaletta Bio Stock Performance

CABA stock opened at $10.65 on Wednesday. Cabaletta Bio has a 1 year low of $9.02 and a 1 year high of $26.35. The stock’s 50 day moving average price is $18.00 and its 200 day moving average price is $18.80. The firm has a market cap of $498.29 million, a P/E ratio of -6.45 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). On average, research analysts predict that Cabaletta Bio will post -1.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CABA shares. Wells Fargo & Company raised their target price on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. HC Wainwright lifted their price objective on Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Citigroup lifted their target price on Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Jefferies Financial Group assumed coverage on Cabaletta Bio in a report on Monday, February 5th. They set a “buy” rating and a $36.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a report on Friday, April 5th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.33.

Institutional Trading of Cabaletta Bio

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Cabaletta Bio by 14.3% during the third quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock valued at $29,955,000 after acquiring an additional 246,596 shares in the last quarter. Swiss National Bank bought a new position in Cabaletta Bio in the third quarter worth about $930,000. Citigroup Inc. lifted its holdings in Cabaletta Bio by 552.4% in the third quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after acquiring an additional 42,078 shares during the last quarter. Jennison Associates LLC lifted its holdings in Cabaletta Bio by 14.4% in the fourth quarter. Jennison Associates LLC now owns 1,626,628 shares of the company’s stock worth $36,924,000 after acquiring an additional 204,261 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Cabaletta Bio in the third quarter worth about $3,753,000.

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.