Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Up 38.2% in December

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of a significant increase in short interest in 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 trading volume of 2,280,000 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analyst Weigh In

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

Cabaletta Bio Stock Performance

NASDAQ:CABA traded down $0.05 during trading hours on Monday, reaching $2.24. The company’s stock had a trading volume of 1,236,808 shares, compared to its average volume of 1,424,783. The company has a market capitalization of $109.48 million, a P/E ratio of -1.04 and a beta of 2.37. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35. The stock 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 hedge funds and other institutional investors have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new position in 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% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cabaletta Bio in the 3rd quarter valued at about $67,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Cabaletta Bio in the third quarter valued at approximately $127,000.

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.