Cabaletta Bio Sees Unusually Large Options Volume (NASDAQ:CABA)

Cabaletta Bio, Inc. (NASDAQ:CABA) was the target of unusually large options trading activity on Thursday. Investors bought 3,428 call options on the stock. This represents an increase of approximately 83% compared to the average daily volume of 1,871 call options.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $3.18 on Friday. The stock has a market cap of $306.11 million, a PE ratio of -1.26 and a beta of 3.25. The firm has a 50-day moving average of $2.32 and a 200-day moving average of $2.13. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.67.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. As a group, analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CABA has been the subject of several recent research reports. 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 for the company. Cantor Fitzgerald increased their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Insider Buying and Selling at Cabaletta Bio

In other Cabaletta Bio news, CEO Steven Nichtberger bought 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average price of $2.24 per share, with a total value of $100,800.00. Following the completion of the transaction, the chief executive officer owned 1,031,483 shares in the company, valued at approximately $2,310,521.92. This trade represents a 4.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Simon purchased 11,061 shares of the stock in a transaction on Wednesday, January 21st. The stock was acquired at an average price of $2.28 per share, for a total transaction of $25,219.08. Following the completion of the purchase, the director directly owned 147,205 shares in the company, valued at approximately $335,627.40. The trade was a 8.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 127,668 shares of company stock worth $286,211. Company insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Matauro LLC bought a new position in Cabaletta Bio in the 4th quarter valued at about $121,000. SG Americas Securities LLC boosted its position in shares of Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after acquiring an additional 9,365 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cabaletta Bio by 565.4% in the third quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company’s stock valued at $1,258,000 after acquiring an additional 456,853 shares during the last quarter. Woodline Partners LP increased its stake in Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock valued at $4,997,000 after acquiring an additional 916,884 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Cabaletta Bio by 192.3% during the third quarter. XTX Topco Ltd now owns 284,299 shares of the company’s stock worth $665,000 after purchasing an additional 187,039 shares during the last quarter.

Cabaletta Bio Company Profile

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.