Investing in Cabaletta Bio Inc. (CABA): What You Must Know


Cabaletta Bio Inc.’s recent filing unveils that its President & CEO Nichtberger Steven acquired Company’s shares for reported $10152.0 on Oct 19. In the deal valued at $1.25 per share,8,127 shares were bought. As a result of this transaction, Nichtberger Steven now holds 986,483 shares worth roughly $ 8.73 million.

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Then, Nichtberger Steven bought 141,873 shares, generating $141,008 in total proceeds. Upon buying the shares at $0.99, the President & CEO now owns 978,356 shares.

Before that, Simon Mark bought 118,000 shares. Cabaletta Bio Inc. shares valued at $115,286 were divested by the Director at a price of $0.98 per share. As a result of the transaction, Simon Mark now holds 136,144 shares, worth roughly $1.2 million.

Morgan Stanley upgraded its Cabaletta Bio Inc. [CABA] rating to an Overweight from a an Equal-weight in a research note published on Monday, January 27, 2023; the price target was increased to $16 from $3. PT values the company’s stock at a premium of 44.69 to its Monday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late August from “an Overweight” to “an Equal-weight”. Wells Fargo began covering CABA with “an Overweight” recommendation on December 08, 2021.

Price Performance Review of CABA

On Monday, Cabaletta Bio Inc. [NASDAQ:CABA] saw its stock jump 7.66% to $8.85. On the same session, the stock had its day’s lowest price of $8.19, but rose to a high of $9.00. Over the last five days, the stock has gained 11.60%. Cabaletta Bio Inc. shares have fallen nearly -4.32% since the year began. Nevertheless, the stocks have risen 300.45% over the past one year. While a 52-week high of $12.88 was reached on 02/08/23, a 52-week low of $0.59 was recorded on 02/21/23. SMA at 50 days reached $9.66, while 200 days put it at $3.69. A total of 0.82 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For CABA Stock

The 24-hour chart illustrates a support level at 8.36, which if violated will result in even more drops to 7.87. On the upside, there is a resistance level at 9.17. A further resistance level may holdings at 9.49. The Relative Strength Index (RSI) on the 14-day chart is 44.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.50%. Stochastics %K at 19.56% indicates the stock is a buying.

How much short interest is there in Cabaletta Bio Inc.?

A steep rise in short interest was recorded in Cabaletta Bio Inc. stocks on Jan 30, 2023, dropping by -0.14 million shares to a total of 3.39 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 3.53 million shares. There was a decline of -4.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.23% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.39.

Cabaletta Bio Inc. [CABA] – Who Are The Largest Shareholders?

In filings from Fred Alger Management LLC, it is revealed that the company now owns 3,478,427 shares, or roughly 13.52% of the outstanding CABA shares. In other words, the investor’s shares have risen by 2,742,478 from its previous 13-F filing of 735949.0.. Over the last quarter, Cormorant Asset Management LP purchased 817,315 shares of Cabaletta Bio Inc., while Commodore Capital LP bought 448,008 shares. At present, Baker Bros. Advisors LP is holding 1,344,000 shares valued at $16.38 million. The Vanguard Group, Inc. owned 919,362 shares of the company at the time of its most recent 13F filing, worth $11.21 million.

According to FactSet, Cabaletta Bio Inc.’s share price will average $13.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 58.15 percent from its previous closing price of $8.22. Analysts expect Cabaletta Bio Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $10.00. However, 7 analysts have rated CABA stock as a Buy in their predictions for 2023. The most recent change occurred on June 30, 2021 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $22 price target.


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