Short Interest in Cabaletta Bio, Inc. (NASDAQ:CABA) Declines By 11.2%

Cabaletta Bio, Inc. (NASDAQ:CABAGet Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 9,100,000 shares, a decrease of 11.2% from the April 30th total of 10,250,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is currently 8.1 days.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CABA. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Friday, May 24th. Citigroup upped their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price target on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, April 5th. Finally, Jefferies Financial Group assumed coverage on Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 target price for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $34.33.

Read Our Latest Stock Report on CABA

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA traded up $0.26 during trading on Friday, reaching $10.19. 1,255,752 shares of the stock were exchanged, compared to its average volume of 783,883. Cabaletta Bio has a 12-month low of $9.02 and a 12-month high of $26.35. The firm’s 50-day moving average price is $13.72 and its 200 day moving average price is $18.28. The firm has a market cap of $491.97 million, a price-to-earnings ratio of -5.96 and a beta of 2.52.

Cabaletta Bio (NASDAQ:CABAGet Free Report) last released its quarterly earnings results 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). As a group, equities research analysts forecast that Cabaletta Bio will post -2.07 EPS for the current year.

Cabaletta Bio Company Profile

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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.

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