Cabaletta Bio (NASDAQ:CABA) Insider David Chang Purchases 8,800 Shares

Cabaletta Bio, Inc. (NASDAQ:CABA) insider David Chang acquired 8,800 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were acquired at an average cost of $2.26 per share, with a total value of $19,888.00. Following the acquisition, the insider directly owned 8,800 shares of the company’s stock, valued at $19,888. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cabaletta Bio Trading Up 6.8%

Shares of CABA traded up $0.15 during midday trading on Wednesday, reaching $2.34. The stock had a trading volume of 2,092,876 shares, compared to its average volume of 1,493,053. The company has a market capitalization of $225.25 million, a price-to-earnings ratio of -0.92 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 company’s 50-day moving average is $2.29 and its 200 day moving average is $2.11.

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

Wall Street Analysts Forecast Growth

CABA has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Cabaletta Bio in a research report on Friday, October 10th. Jefferies Financial Group initiated coverage on Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 target price on the stock. Cantor Fitzgerald increased their price objective on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CABA. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of Cabaletta Bio by 250.5% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after buying an additional 6,916,237 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio in the second quarter worth about $3,036,000. Jennison Associates LLC lifted its stake in Cabaletta Bio by 147.4% during the 2nd quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after acquiring an additional 3,586,439 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in Cabaletta Bio during the second quarter valued at $32,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Cabaletta Bio by 695.6% in the second quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock worth $78,000 after buying an additional 44,621 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.