In a filing, Cabaletta Bio Inc. revealed its insider Binder Gwendolyn unloaded Company’s shares for reported $0.15 million on Aug 21. In the deal valued at $13.42 per share,11,000 shares were sold. As a result of this transaction, Binder Gwendolyn now holds 20,000 shares worth roughly $ 0.28 million.
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Then, Binder Gwendolyn sold 11,000 shares, generating $152,022 in total proceeds. Upon selling the shares at $13.82, the insider now owns 20,000 shares.
Before that, Binder Gwendolyn sold 11,000 shares. Cabaletta Bio Inc. shares valued at $142,925 were divested by the insider at a price of $12.99 per share. As a result of the transaction, Binder Gwendolyn now holds 20,000 shares, worth roughly $0.28 million.
Citigroup initiated its Cabaletta Bio Inc. [CABA] rating to a Buy in a research note published on Tuesday, September 05, 2023; the price target was $22. PT values the company’s stock at a premium of 37.14 to its Tuesday closing price.
Price Performance Review of CABA
On Tuesday, Cabaletta Bio Inc. [NASDAQ:CABA] saw its stock jump 3.83% to $13.83. On the same session, the stock had its day’s lowest price of $13.71, but rose to a high of $16.04. Over the last five days, the stock has lost -5.01%. Cabaletta Bio Inc. shares have risen nearly 49.51% since the year began. Nevertheless, the stocks have risen 1269.31% over the past one year. While a 52-week high of $15.39 was reached on 09/05/23, a 52-week low of $0.59 was recorded on 03/16/23. SMA at 50 days reached $12.95, while 200 days put it at $10.07. A total of 2.09 million shares were traded, compared to the trading of 0.63 million shares in the previous session.
Levels Of Support And Resistance For CABA Stock
The 24-hour chart illustrates a support level at 13.01, which if violated will result in even more drops to 12.20. On the upside, there is a resistance level at 15.34. A further resistance level may holdings at 16.86. The Relative Strength Index (RSI) on the 14-day chart is 53.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.12%. Stochastics %K at 44.19% indicates the stock is a holding.
How much short interest is there in Cabaletta Bio Inc.?
A steep rise in short interest was recorded in Cabaletta Bio Inc. stocks on Aug 14, 2023, dropping by -0.15 million shares to a total of 5.36 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.51 million shares. There was a decline of -2.8%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 15.42% of the overall stock float, the days-to-cover ratio (short ratio) fell to 13.62.
Cabaletta Bio Inc. [CABA] – Who Are The Largest Shareholders?
In filings from Fred Alger Management LLC, it is revealed that the company now owns 4,572,886 shares, or roughly 11.52% of the outstanding CABA shares. In other words, the investor’s shares have risen by 557,576 from its previous 13-F filing of 4015310.0. Additionally, Adage Capital Management LP increased 28.52% of its stake after which the total value it holdings stand at $44,491,705, while Commodore Capital LP added 29.06% of its stake to hold $32.25 million in the firm. Over the last quarter, Deerfield Management Co. LP purchased 1,875,866 shares of Cabaletta Bio Inc., while Cormorant Asset Management LP bought 400,000 shares. At present, Lynx1 Capital Management LP is holding 2,181,377 shares valued at $29.71 million. The Vanguard Group, Inc. owned 1,669,713 shares of the company at the time of its most recent 13F filing, worth $22.74 million.
According to FactSet, Cabaletta Bio Inc.’s share price will average $22.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 65.17 percent from its previous closing price of $13.32. Analysts expect Cabaletta Bio Inc. stock to reach the higher price of $34.00, while the lowest price estimate is $16.00. However, 6 analysts have rated CABA stock as a Buy in their predictions for 2023.