Cabaletta Bio (NASDAQ:CABA) CEO Buys $100,800.00 in Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) CEO Steven Nichtberger purchased 45,000 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average cost of $2.24 per share, with a total value of $100,800.00. Following the acquisition, the chief executive officer directly owned 1,031,483 shares in the company, valued at $2,310,521.92. This trade represents a 4.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cabaletta Bio Trading Up 8.2%

Shares of CABA opened at $3.18 on Friday. The firm has a market cap of $306.11 million, a P/E ratio of -1.26 and a beta of 3.25. Cabaletta Bio, Inc. has a 12 month low of $0.99 and a 12 month high of $3.67. The stock’s 50 day moving average is $2.32 and its two-hundred day moving average is $2.13.

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

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently added to or reduced their stakes in the business. CRA Financial Services LLC boosted its position in Cabaletta Bio by 36.4% in the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after buying an additional 4,000 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Cabaletta Bio in the third quarter valued at $47,000. Catalyst Funds Management Pty Ltd purchased a new position in Cabaletta Bio in the second quarter valued at $32,000. SG Americas Securities LLC grew its stake in Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares in the last quarter. Finally, Comerica Bank grew its stake in Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after purchasing an additional 39,860 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on CABA shares. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday. Finally, Cantor Fitzgerald upped their price objective on shares of Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

About Cabaletta Bio

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.