Cabaletta Bio (NASDAQ:CABA) Director Mark Simon Acquires 11,061 Shares

Cabaletta Bio, Inc. (NASDAQ:CABA) Director Mark Simon acquired 11,061 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were bought at an average price of $2.28 per share, for a total transaction of $25,219.08. Following the purchase, the director directly owned 147,205 shares of the company’s stock, valued at approximately $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Cabaletta Bio Price Performance

Shares of CABA traded up $0.15 during midday trading on Wednesday, reaching $2.34. The stock had a trading volume of 2,092,876 shares, compared to its average volume of 1,493,053. The company has a market capitalization of $225.25 million, a P/E ratio of -0.92 and a beta of 3.25. The firm’s 50 day moving average price is $2.29 and its 200-day moving average price is $2.11. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $3.67.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. On average, equities analysts forecast that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

CABA has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price target on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cabaletta Bio presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bain Capital Life Sciences Investors LLC raised its position in Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after acquiring an additional 6,916,237 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Cabaletta Bio during the 2nd quarter worth about $3,036,000. Jennison Associates LLC raised its stake in shares of Cabaletta Bio by 147.4% in the 2nd quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after acquiring an additional 3,586,439 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new position in shares of Cabaletta Bio in the second quarter valued at approximately $32,000. Finally, Tower Research Capital LLC TRC grew its stake in Cabaletta Bio by 695.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after buying an additional 44,621 shares during the last quarter.

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.