Investors Purchase Large Volume of Cabaletta Bio Call Options (NASDAQ:CABA)

Cabaletta Bio, Inc. (NASDAQ:CABA) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 3,715 call options on the stock. This represents an increase of approximately 1,730% compared to the typical daily volume of 203 call options.

Cabaletta Bio Price Performance

CABA stock traded up $0.59 during mid-day trading on Friday, reaching $3.01. The company had a trading volume of 4,574,412 shares, compared to its average volume of 2,356,309. The firm has a 50 day moving average of $3.90 and a 200 day moving average of $6.32. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CABA shares. UBS Group assumed coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective for the company. Wells Fargo & Company dropped their price objective on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, November 15th. Finally, Evercore ISI dropped their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $27.30.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently bought and sold shares of CABA. California State Teachers Retirement System grew its stake in Cabaletta Bio by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after purchasing an additional 1,711 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cabaletta Bio by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after acquiring an additional 4,191 shares during the period. AlphaCentric Advisors LLC grew its stake in shares of Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock worth $524,000 after purchasing an additional 5,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cabaletta Bio during the 3rd quarter valued at approximately $32,000.

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.