Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Down 28.9% in October

Cabaletta Bio, Inc. (NASDAQ:CABA) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,780,000 shares, a decrease of 28.9% from the September 30th total of 5,320,000 shares. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is presently 3.6 days.

Cabaletta Bio Price Performance

Shares of CABA traded up $0.10 during trading hours on Tuesday, hitting $4.20. The stock had a trading volume of 820,241 shares, compared to its average volume of 1,088,372. The stock has a market capitalization of $205.17 million, a price-to-earnings ratio of -2.16 and a beta of 2.39. The company’s fifty day moving average is $4.62 and its two-hundred day moving average is $7.79. Cabaletta Bio has a 52 week low of $3.47 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Equities analysts predict that Cabaletta Bio will post -2.28 EPS for the current fiscal year.

Analyst Ratings Changes

CABA has been the topic of a number of research reports. 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. Wells Fargo & Company reduced their target price on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 17th. Finally, Evercore ISI reduced their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $28.10.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. E Fund Management Co. Ltd. increased its holdings in shares of Cabaletta Bio by 1,610.1% in the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after purchasing an additional 269,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Cabaletta Bio by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after acquiring an additional 84,633 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Cabaletta Bio by 110.4% during the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after acquiring an additional 1,796,356 shares during the period. Vanguard Group Inc. boosted its holdings in Cabaletta Bio by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after acquiring an additional 144,291 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Cabaletta Bio during the 1st quarter worth about $305,000.

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.