Cabaletta Bio Sees Unusually High Options Volume (NASDAQ:CABA)

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 3,715 call options on the company. This is an increase of approximately 1,730% compared to the typical volume of 203 call options.

Wall Street Analysts Forecast Growth

CABA has been the subject of a number of research analyst reports. TD Cowen raised shares of Cabaletta Bio to a "strong-buy" rating in a research report on Friday. William Blair reissued an "outperform" rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. UBS Group initiated coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a "buy" rating and a $10.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, November 15th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $26.25.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CABA. Fred Alger Management LLC boosted its position in Cabaletta Bio by 63.3% in the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company's stock valued at $19,444,000 after buying an additional 1,596,512 shares in the last quarter. Sofinnova Investments Inc. boosted its position in Cabaletta Bio by 184.0% in the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company's stock valued at $9,129,000 after buying an additional 790,654 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Cabaletta Bio in the third quarter valued at about $3,150,000. Panagora Asset Management Inc. acquired a new position in Cabaletta Bio in the second quarter valued at about $2,243,000. Finally, Squarepoint Ops LLC lifted its position in shares of Cabaletta Bio by 643.3% during the second quarter. Squarepoint Ops LLC now owns 315,379 shares of the company's stock worth $2,359,000 after purchasing an additional 272,948 shares in the last quarter.

Cabaletta Bio Trading Up 26.9 %

NASDAQ CABA traded up $0.81 on Friday, reaching $3.82. The company's stock had a trading volume of 17,976,615 shares, compared to its average volume of 1,271,835. The firm has a market cap of $186.72 million, a PE ratio of -1.78 and a beta of 2.42. The business has a 50-day moving average price of $3.88 and a 200 day moving average price of $6.27. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $26.35.

Cabaletta Bio Company Profile

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. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.