Cabaletta Bio (NASDAQ:CABA) Insider Purchases $19,888.00 in Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) insider David Chang bought 8,800 shares of the stock in a transaction on Wednesday, January 21st. The shares were acquired at an average cost of $2.26 per share, for a total transaction of $19,888.00. Following the acquisition, the insider directly owned 8,800 shares in the company, valued at approximately $19,888. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cabaletta Bio Trading Up 8.2%

CABA stock opened at $3.18 on Friday. The stock has a market cap of $306.11 million, a price-to-earnings ratio of -1.26 and a beta of 3.25. Cabaletta Bio, Inc. has a 1-year low of $0.99 and a 1-year high of $3.67. The company’s 50 day moving average is $2.32 and its 200 day moving average is $2.13.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Monday, November 10th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. As a group, sell-side analysts forecast that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CABA. Cantor Fitzgerald lifted their target price on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Jefferies Financial Group started coverage on Cabaletta Bio in a report on Friday, October 10th. They issued a “buy” rating and a $14.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cabaletta Bio presently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. CRA Financial Services LLC lifted its stake in Cabaletta Bio by 36.4% in the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after acquiring an additional 4,000 shares during the period. SG Americas Securities LLC grew its stake in shares of 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 during the period. Almitas Capital LLC raised its position in shares of Cabaletta Bio by 5.4% in the third quarter. Almitas Capital LLC now owns 387,491 shares of the company’s stock worth $907,000 after acquiring an additional 20,000 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Cabaletta Bio during the third quarter worth about $47,000. Finally, Catalyst Funds Management Pty Ltd purchased a new position in Cabaletta Bio in the 2nd quarter valued at $32,000.

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.