Short Interest in Cabaletta Bio, Inc. (NASDAQ:CABA) Rises By 55.0%

Cabaletta Bio, Inc. (NASDAQ:CABAGet Rating) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,440,000 shares, a growth of 55.0% from the August 15th total of 2,220,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at approximately $42,000. Ghost Tree Capital LLC increased its holdings in shares of Cabaletta Bio by 35.0% during the fourth quarter. Ghost Tree Capital LLC now owns 135,000 shares of the company’s stock valued at $512,000 after acquiring an additional 35,000 shares in the last quarter. Samlyn Capital LLC increased its holdings in shares of Cabaletta Bio by 295.8% during the fourth quarter. Samlyn Capital LLC now owns 1,383,381 shares of the company’s stock valued at $5,243,000 after acquiring an additional 1,033,906 shares in the last quarter. CI Investments Inc. bought a new stake in shares of Cabaletta Bio during the first quarter valued at approximately $262,000. Finally, Veritable L.P. increased its holdings in shares of Cabaletta Bio by 254.7% during the first quarter. Veritable L.P. now owns 37,245 shares of the company’s stock valued at $76,000 after acquiring an additional 26,745 shares in the last quarter. Institutional investors own 68.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Mizuho lowered their price objective on Cabaletta Bio from $20.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. HC Wainwright restated a “buy” rating on shares of Cabaletta Bio in a research report on Monday, August 22nd. Chardan Capital lowered their price objective on Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Morgan Stanley downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.00 to $3.00 in a research report on Tuesday, August 30th. Finally, Wells Fargo & Company lowered their price objective on Cabaletta Bio from $14.00 to $4.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cabaletta Bio currently has an average rating of “Moderate Buy” and an average target price of $8.20.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $0.88 on Friday. The company has a market cap of $25.53 million, a P/E ratio of -0.48 and a beta of 1.58. The stock has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.47. Cabaletta Bio has a fifty-two week low of $0.80 and a fifty-two week high of $14.95.

Cabaletta Bio (NASDAQ:CABAGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.07. On average, research analysts predict that Cabaletta Bio will post -1.89 earnings per share for the current year.

Cabaletta Bio Company Profile

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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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