Cabaletta Bio, Inc. (NASDAQ:CABA) Sees Significant Increase in Short Interest

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 8,770,000 shares, an increase of 16.8% from the July 15th total of 7,510,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is currently 7.1 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in Cabaletta Bio by 65.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $60,000 after acquiring an additional 1,042 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cabaletta Bio by 65.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,206 shares of the company’s stock valued at $140,000 after purchasing an additional 3,244 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Cabaletta Bio during the 1st quarter worth $147,000. Bayesian Capital Management LP acquired a new stake in shares of Cabaletta Bio during the 1st quarter worth about $191,000. Finally, Birchview Capital LP acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth about $227,000.

Wall Street Analyst Weigh In

Several analysts have commented on the company. HC Wainwright dropped their price objective on Cabaletta Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price target on shares of Cabaletta Bio in a report on Monday, June 17th. Wells Fargo & Company reduced their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, June 21st. Finally, Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $30.11.

Cabaletta Bio Price Performance

NASDAQ CABA traded up $0.08 during trading hours on Friday, hitting $4.54. 722,804 shares of the company’s stock traded hands, compared to its average volume of 1,140,182. The company has a market capitalization of $219.18 million, a PE ratio of -2.65 and a beta of 2.42. Cabaletta Bio has a 52-week low of $3.47 and a 52-week high of $26.35. The firm’s 50-day moving average is $7.44 and its 200-day moving average is $13.57.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Equities research analysts predict that Cabaletta Bio will post -2.07 earnings per share for the current fiscal year.

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.