Michael Gerard Acquires 6,600 Shares of Cabaletta Bio (NASDAQ:CABA) Stock

Cabaletta Bio, Inc. (NASDAQ:CABA) General Counsel Michael Gerard purchased 6,600 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, January 21st. The shares were bought at an average price of $2.27 per share, with a total value of $14,982.00. Following the transaction, the general counsel owned 6,600 shares of the company’s stock, valued at $14,982. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cabaletta Bio Stock Performance

CABA stock traded up $0.15 during mid-day trading on Wednesday, hitting $2.34. The company had a trading volume of 2,092,876 shares, compared to its average volume of 1,493,053. The stock’s fifty day moving average price is $2.29 and its two-hundred day moving average price is $2.11. Cabaletta Bio, Inc. has a 12 month low of $0.99 and a 12 month high of $3.67. The firm has a market cap of $225.25 million, a PE ratio of -0.92 and a beta of 3.25.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Equities analysts anticipate that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Cantor Fitzgerald lifted their price objective on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th. Finally, Jefferies Financial Group initiated coverage on Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cabaletta Bio presently has an average rating of “Moderate Buy” and an average target price of $16.25.

Institutional Trading of Cabaletta Bio

Large investors have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of Cabaletta Bio by 357.1% during the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after buying an additional 48,181 shares during the period. Comerica Bank boosted its holdings in shares of Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after buying an additional 39,860 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Cabaletta Bio in the first quarter worth about $102,000. Jennison Associates LLC raised its stake in Cabaletta Bio by 147.4% during the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after buying an additional 3,586,439 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Cabaletta Bio in the 2nd quarter worth about $32,000.

About Cabaletta Bio

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.