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

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 9,870,000 shares, an increase of 16.1% from the March 31st total of 8,500,000 shares. Based on an average trading volume of 954,800 shares, the short-interest ratio is presently 10.3 days.

Cabaletta Bio Stock Performance

CABA stock traded down $0.53 during midday trading on Monday, reaching $10.48. 5,070,481 shares of the company traded hands, compared to its average volume of 1,028,918. Cabaletta Bio has a 52-week low of $9.02 and a 52-week high of $26.35. The business has a 50 day moving average of $18.24 and a 200-day moving average of $18.83. The firm has a market capitalization of $490.57 million, a price-to-earnings ratio of -6.35 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). Research analysts anticipate that Cabaletta Bio will post -1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CABA. Macroview Investment Management LLC bought a new position in Cabaletta Bio in the fourth quarter worth approximately $26,000. Tower Research Capital LLC TRC boosted its position in Cabaletta Bio by 65.9% during the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Cabaletta Bio during the 3rd quarter valued at $63,000. Amalgamated Bank boosted its position in Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company's stock valued at $71,000 after acquiring an additional 922 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Cabaletta Bio during the 4th quarter valued at $113,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, April 5th. Wells Fargo & Company upped their price objective on Cabaletta Bio from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, March 22nd. Citigroup upped their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. HC Wainwright boosted their target price on Cabaletta Bio from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group began coverage on Cabaletta Bio in a research report on Monday, February 5th. They issued a "buy" rating and a $36.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $34.33.

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.