Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Update

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 3,780,000 shares, a decrease of 28.9% from the September 30th total of 5,320,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. E Fund Management Co. Ltd. raised its holdings in shares of Cabaletta Bio by 1,610.1% during the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after purchasing an additional 269,675 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Cabaletta Bio by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after acquiring an additional 84,633 shares in the last quarter. Jennison Associates LLC boosted its holdings in Cabaletta Bio by 110.4% in the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock worth $58,396,000 after acquiring an additional 1,796,356 shares in the last quarter. Vanguard Group Inc. grew its position in Cabaletta Bio by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after purchasing an additional 144,291 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Cabaletta Bio during the first quarter valued at about $305,000.

Analysts Set New Price Targets

CABA has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday, September 17th. Evercore ISI reduced their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, UBS Group began coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $28.10.

Cabaletta Bio Stock Up 2.4 %

Cabaletta Bio stock traded up $0.10 during trading hours on Tuesday, reaching $4.20. 820,241 shares of the company’s stock were exchanged, compared to its average volume of 1,088,372. Cabaletta Bio has a twelve month low of $3.47 and a twelve month high of $26.35. The firm’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $7.79. The firm has a market capitalization of $205.17 million, a PE ratio of -2.16 and a beta of 2.39.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Analysts anticipate that Cabaletta Bio will post -2.28 EPS for the current 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.