Cabaletta Bio (NASDAQ:CABA) Sees Strong Trading Volume

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 2,152,087 shares traded hands during trading, an increase of 117% from the previous session's volume of 991,790 shares.The stock last traded at $10.85 and had previously closed at $11.01.

Wall Street Analyst Weigh In

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

Cabaletta Bio Price Performance

The business's 50 day moving average price is $18.24 and its 200 day moving average price is $18.83. The stock has a market capitalization of $490.57 million, a P/E ratio of -6.35 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). As a group, analysts forecast that Cabaletta Bio, Inc. will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Macroview Investment Management LLC bought a new position in shares of Cabaletta Bio during the 4th quarter valued at approximately $26,000. Tower Research Capital LLC TRC increased its stake in Cabaletta Bio by 65.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company's stock worth $60,000 after buying an additional 1,042 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Cabaletta Bio during the third quarter valued at about $63,000. Amalgamated Bank grew its position in shares of Cabaletta Bio by 24.7% during the third quarter. Amalgamated Bank now owns 4,648 shares of the company's stock worth $71,000 after purchasing an additional 922 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in Cabaletta Bio in the 4th quarter worth approximately $113,000.

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.