Cabaletta Bio, Inc. (NASDAQ:CABA) Short Interest Update

Cabaletta Bio, Inc. (NASDAQ:CABA) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 5,320,000 shares, a decline of 16.7% from the September 15th total of 6,390,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 5.1 days.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA traded up $0.17 during midday trading on Wednesday, hitting $4.50. 295,269 shares of the company’s stock traded hands, compared to its average volume of 1,093,176. The company has a market cap of $217.25 million, a PE ratio of -2.53 and a beta of 2.39. The firm’s fifty day moving average price is $4.67 and its two-hundred day moving average price is $8.61. Cabaletta Bio has a twelve month low of $3.47 and a twelve month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, equities research analysts anticipate that Cabaletta Bio will post -2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CABA shares. Evercore ISI lowered their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company reduced their price target on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. UBS Group started coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Cabaletta Bio presently has an average rating of “Buy” and an average price target of $28.10.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of Cabaletta Bio by 6.0% in the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after purchasing an additional 1,711 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Cabaletta Bio by 65.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,206 shares of the company’s stock valued at $140,000 after buying an additional 3,244 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after buying an additional 4,191 shares during the last quarter. AlphaCentric Advisors LLC grew its position in shares of Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after buying an additional 5,000 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Cabaletta Bio by 5.5% during the 2nd quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after buying an additional 7,000 shares during the last quarter.

About Cabaletta Bio

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.