Short Interest in Cabaletta Bio, Inc. (NASDAQ:CABA) Expands By 38.2%

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 6,220,000 shares, an increase of 38.2% from the November 30th total of 4,500,000 shares. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is presently 2.7 days.

Cabaletta Bio Stock Performance

CABA stock traded down $0.05 on Monday, hitting $2.24. 1,236,808 shares of the company’s stock were exchanged, compared to its average volume of 1,424,783. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $26.35. The stock has a market cap of $109.48 million, a P/E ratio of -1.04 and a beta of 2.37. The firm has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $5.02.

Institutional Trading of Cabaletta Bio

Several large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cabaletta Bio in the third quarter valued at about $32,000. Point72 DIFC Ltd purchased a new stake in shares of Cabaletta Bio in the third quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. lifted its position in Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after buying an additional 3,724 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cabaletta Bio in the 3rd quarter worth $67,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth $127,000.

Analyst Upgrades and Downgrades

CABA has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday, November 15th. Finally, Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $24.38.

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.