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

Cabaletta Bio, Inc. (NASDAQ:CABA) CEO Steven Nichtberger bought 45,000 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were acquired at an average price of $2.24 per share, for a total transaction of $100,800.00. Following the transaction, the chief executive officer directly owned 1,031,483 shares in the company, valued at approximately $2,310,521.92. This represents a 4.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cabaletta Bio Stock Performance

NASDAQ:CABA traded up $0.15 during trading hours on Wednesday, reaching $2.34. 2,092,876 shares of the company were exchanged, compared to its average volume of 1,493,053. Cabaletta Bio, Inc. has a twelve month low of $0.99 and a twelve month high of $3.67. The stock’s 50-day moving average is $2.29 and its 200-day moving average is $2.11.

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 the consensus estimate of ($0.49) by $0.05. As a group, research analysts forecast that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CABA. Matauro LLC acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth about $121,000. SG Americas Securities LLC lifted its stake in Cabaletta Bio by 44.0% in the fourth 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cabaletta Bio by 565.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company’s stock valued at $1,258,000 after acquiring an additional 456,853 shares during the period. Woodline Partners LP raised its holdings in shares of Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock valued at $4,997,000 after buying an additional 916,884 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Cabaletta Bio by 192.3% in the 3rd quarter. XTX Topco Ltd now owns 284,299 shares of the company’s stock valued at $665,000 after buying an additional 187,039 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on CABA. Cantor Fitzgerald raised their target price on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Cabaletta Bio in a research note on Friday, October 10th. They set a “buy” rating and a $14.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cabaletta Bio has an average 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.