Cabaletta Bio (NASDAQ:CABA) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Cabaletta Bio shares traded actively, with about 2.42 million shares changing hands—37% below the prior session—while the stock slipped 1.6% to approximately $3.47.
• Analyst views remain mixed, but the consensus is a “Moderate Buy” with a $15.33 price target; targets range from Wells Fargo’s $3.00 to HC Wainwright’s $16.00.
• The company beat quarterly EPS expectations, reporting a loss of $0.34 per share versus the expected $0.37 loss, while several institutional investors initiated or increased positions in CABA.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) shares saw an uptick in trading volume on Friday . Approximately 2,422,055 shares traded hands during mid-day trading, a decline of 37% from the previous session's volume of 3,834,662 shares.The stock last traded at $3.4650 and had previously closed at $3.48.

Analysts Set New Price Targets

Several brokerages have issued reports on CABA. Wells Fargo & Company dropped their price target on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. HC Wainwright reaffirmed a "buy" rating and set a $16.00 target price on shares of Cabaletta Bio in a research report on Tuesday. Finally, TD Cowen raised shares of Cabaletta Bio to a "strong-buy" rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $15.33.

Cabaletta Bio Stock Down 1.6%

The firm's 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.12. The firm has a market capitalization of $580.67 million, a PE ratio of -2.18 and a beta of 3.27.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.03. On average, equities research analysts forecast that Cabaletta Bio, Inc. will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently modified their holdings of CABA. HighTower Advisors LLC bought a new position in Cabaletta Bio in the second quarter worth about $34,000. Susquehanna Fundamental Investments LLC bought a new stake in Cabaletta Bio during the 2nd quarter valued at approximately $476,000. Two Sigma Securities LLC purchased a new position in shares of Cabaletta Bio during the 2nd quarter worth approximately $83,000. Wellington Management Group LLP raised its position in shares of Cabaletta Bio by 15.6% in the 2nd quarter. Wellington Management Group LLP now owns 286,212 shares of the company's stock worth $890,000 after acquiring an additional 38,553 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of Cabaletta Bio in the 2nd quarter worth approximately $2,852,181.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source