Cabaletta Bio Inc. [NASDAQ: CABA] surged by $0.31 during the normal trading session on while it closed the day at $1.30. The company report on October 11, 2022 that Cabaletta Bio Announces CABA-201, a Newly Designed CD19-Targeting CAR T Cell Therapy Engineered to Address a Broad Range of Autoimmune Diseases.
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– Company has obtained exclusive worldwide license for a fully human CD19 binder with clinical tolerability data that support potential clinical development in autoimmune diseases –.
– CABA-201 Investigational New Drug (IND) application planned for the first half of 2023 with initial clinical data expected by the first half of 2024, pending IND clearance –.
Cabaletta Bio Inc. stock has also gained 71.08% of its value over the past 7 days. However, CABA stock has declined by -13.33% in the 3 months of the year. Over the past six months meanwhile, it has lost -11.56% and lost -65.70% year-on date.
The market cap for CABA stock reached $33.49 million, with 28.99 million shares outstanding and 27.76 million shares in the current float. Compared to the average trading volume of 1.42M shares, CABA reached a trading volume of 10561954 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Cabaletta Bio Inc. [CABA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CABA shares is $9.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CABA stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Cabaletta Bio Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 30, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on December 08, 2021, representing the official price target for Cabaletta Bio Inc. stock. Previously, the target price had yet another raise to $20, while Morgan Stanley analysts kept a Overweight rating on CABA stock.
The Average True Range (ATR) for Cabaletta Bio Inc. is set at 0.10 The Price to Book ratio for the last quarter was 0.39, with the Price to Cash per share for the same quarter was set at 3.76.
CABA stock trade performance evaluation
Cabaletta Bio Inc. [CABA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 71.08. With this latest performance, CABA shares gained by 76.89% in over the last four-week period, additionally sinking by -11.56% over the last 6 months – not to mention a drop of -90.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CABA stock in for the last two-week period is set at 75.11, with the RSI for the last a single of trading hit 87.55, and the three-weeks RSI is set at 65.35 for Cabaletta Bio Inc. [CABA]. The present Moving Average for the last 50 days of trading for this stock 1.0288, while it was recorded at 0.9651 for the last single week of trading, and 1.6673 for the last 200 days.
Cabaletta Bio Inc. [CABA]: An insightful look at the core fundamentals
Cabaletta Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.20 and a Current Ratio set at 15.20.
Cabaletta Bio Inc. [CABA]: Insider Ownership positions
There are presently around $22 million, or 63.00% of CABA stock, in the hands of institutional investors. The top three institutional holders of CABA stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 2,541,645, which is approximately 0% of the company’s market cap and around 4.31% of the total institutional ownership; 5AM VENTURE MANAGEMENT, LLC, holding 2,064,263 shares of the stock with an approximate value of $2.68 million in CABA stocks shares; and SAMLYN CAPITAL, LLC, currently with $2.5 million in CABA stock with ownership of nearly 8.587% of the company’s market capitalization.
16 institutional holders increased their position in Cabaletta Bio Inc. [NASDAQ:CABA] by around 877,718 shares. Additionally, 30 investors decreased positions by around 2,255,882 shares, while 19 investors held positions by with 13,662,217 shares. The mentioned changes placed institutional holdings at 16,795,817 shares, according to the latest SEC report filing. CABA stock had 5 new institutional investments in for a total of 424,639 shares, while 12 institutional investors sold positions of 1,615,700 shares during the same period.