Cabaletta Bio (NASDAQ:CABA) Sees Unusually-High Trading Volume

Cabaletta Bio, Inc. (NASDAQ:CABA) shares saw unusually-strong trading volume on Monday . Approximately 2,152,087 shares changed hands during mid-day 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

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

Cabaletta Bio Stock Down 4.8 %

The stock has a market capitalization of $490.57 million, a price-to-earnings ratio of -6.05 and a beta of 2.42. The company has a fifty day moving average of $18.48 and a two-hundred day moving average of $18.87.

Cabaletta Bio (NASDAQ:CABA) last released its 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). Equities analysts anticipate that Cabaletta Bio, Inc. will post -1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of CABA. Bank of New York Mellon Corp grew its stake in shares of Cabaletta Bio by 16.1% during the third quarter. Bank of New York Mellon Corp now owns 145,467 shares of the company’s stock valued at $2,214,000 after acquiring an additional 20,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cabaletta Bio in the 3rd quarter valued at approximately $115,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cabaletta Bio by 29.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,798 shares of the company’s stock valued at $256,000 after buying an additional 3,798 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Cabaletta Bio in the third quarter worth $63,000. Finally, Jennison Associates LLC boosted its stake in Cabaletta Bio by 20.5% during the 3rd quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock valued at $21,648,000 after acquiring an additional 241,803 shares during the last quarter.

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.