Gwendolyn Binder Sells 22,000 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) Stock

Cabaletta Bio, Inc. (NASDAQ:CABA – Get Rating) insider Gwendolyn Binder sold 22,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $11.81, for a total value of $259,820.00. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $236,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $11.64 on Friday. The business’s fifty day moving average price is $9.28 and its 200-day moving average price is $8.19. The stock has a market capitalization of $364.98 million, a price-to-earnings ratio of -6.43 and a beta of 2.54. Cabaletta Bio, Inc. has a 1-year low of $0.59 and a 1-year high of $13.44.

Cabaletta Bio (NASDAQ:CABA – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Equities research analysts anticipate that Cabaletta Bio, Inc. will post -1.87 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CABA. Mizuho reiterated a “buy” rating and issued a $10.00 price target on shares of Cabaletta Bio in a report on Friday, March 17th. Morgan Stanley upgraded Cabaletta Bio from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $3.00 to $16.00 in a report on Friday, January 27th. Chardan Capital reiterated a “buy” rating and set a $12.00 price target on shares of Cabaletta Bio in a report on Wednesday, March 22nd. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Cabaletta Bio in a report on Monday, April 3rd. Finally, Evercore ISI lifted their price target on Cabaletta Bio from $14.00 to $18.00 in a report on Thursday, February 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cabaletta Bio currently has a consensus rating of “Buy” and a consensus price target of $14.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marquette Asset Management LLC bought a new position in shares of Cabaletta Bio during the 4th quarter valued at approximately $125,000. Dimensional Fund Advisors LP bought a new position in shares of Cabaletta Bio during the 4th quarter valued at approximately $1,161,000. Jane Street Group LLC boosted its position in shares of Cabaletta Bio by 648.1% during the 3rd quarter. Jane Street Group LLC now owns 83,477 shares of the company’s stock valued at $54,000 after acquiring an additional 72,319 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cabaletta Bio by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,278,551 shares of the company’s stock valued at $831,000 after acquiring an additional 226,713 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Cabaletta Bio by 105.2% during the 3rd quarter. Renaissance Technologies LLC now owns 687,461 shares of the company’s stock valued at $447,000 after acquiring an additional 352,461 shares during the last quarter. 62.12% of the stock is currently owned by institutional investors.

About Cabaletta Bio

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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.