Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) traded up 0.4% during mid-day trading on Wednesday . The stock traded as high as $11.86 and last traded at $11.76. 60,787 shares changed hands during trading, a decline of 40% from the average session volume of 101,930 shares. The stock had previously closed at $11.71.
Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Cabaletta Bio from a “buy” rating to a “hold” rating in a report on Monday, January 4th. Chardan Capital reissued a “buy” rating and set a $21.00 price target on shares of Cabaletta Bio in a report on Friday, January 8th.
The stock has a market capitalization of $282.89 million, a P/E ratio of -8.58 and a beta of 1.67. The firm’s fifty day moving average is $13.00 and its 200-day moving average is $12.46.
In other Cabaletta Bio news, major shareholder Ventures V. L.P. 5Am sold 298,000 shares of the business’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $14.75, for a total value of $4,395,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures V. L.P. 5Am sold 302,000 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $13.00, for a total transaction of $3,926,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 685,000 shares of company stock valued at $9,426,500. Insiders own 6.51% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CABA. BlackRock Inc. raised its stake in shares of Cabaletta Bio by 50.4% in the fourth quarter. BlackRock Inc. now owns 951,396 shares of the company’s stock worth $11,874,000 after acquiring an additional 318,999 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $377,000. State Street Corp grew its position in shares of Cabaletta Bio by 21.9% during the 3rd quarter. State Street Corp now owns 162,714 shares of the company’s stock worth $1,764,000 after buying an additional 29,222 shares during the period. California Public Employees Retirement System acquired a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $311,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth approximately $226,000. 68.00% of the stock is owned by institutional investors.
Cabaletta Bio Company Profile (NASDAQ:CABA)
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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.
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