Cabaletta Bio (NASDAQ:CABA) Director Shawn Tomasello Acquires 22,725 Shares

Cabaletta Bio, Inc. (NASDAQ:CABA) Director Shawn Tomasello purchased 22,725 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, January 21st. The stock was bought at an average cost of $2.21 per share, for a total transaction of $50,222.25. Following the purchase, the director directly owned 22,725 shares in the company, valued at $50,222.25. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cabaletta Bio Stock Performance

NASDAQ CABA traded up $0.15 on Wednesday, reaching $2.34. 2,092,876 shares of the stock traded hands, compared to its average volume of 1,493,053. Cabaletta Bio, Inc. has a 12 month low of $0.99 and a 12 month high of $3.67. The company has a market cap of $225.25 million, a price-to-earnings ratio of -0.92 and a beta of 3.25. The company has a fifty day moving average price of $2.29 and a 200-day moving average price of $2.11.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald upped their price objective on shares of Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Jefferies Financial Group began coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Cabaletta Bio in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cabaletta Bio has an average rating of “Moderate Buy” and a consensus price target of $16.25.

Hedge Funds Weigh In On Cabaletta Bio

A number of hedge funds have recently bought and sold shares of CABA. Bain Capital Life Sciences Investors LLC lifted its position in shares of Cabaletta Bio by 250.5% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after buying an additional 6,916,237 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Cabaletta Bio by 142.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after purchasing an additional 5,195,285 shares in the last quarter. Jennison Associates LLC grew its position in shares of Cabaletta Bio by 147.4% in the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after purchasing an additional 3,586,439 shares during the period. Vanguard Group Inc. increased its stake in shares of Cabaletta Bio by 21.4% during the third quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock worth $9,806,000 after purchasing an additional 740,032 shares in the last quarter. Finally, Woodline Partners LP raised its position in shares of Cabaletta Bio by 75.2% during the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after purchasing an additional 916,884 shares during the last quarter.

About Cabaletta Bio

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.