Stock Traders Purchase High Volume of Call Options on Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio, Inc. (NASDAQ:CABA) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 3,715 call options on the stock. This is an increase of approximately 1,730% compared to the average daily volume of 203 call options.

Cabaletta Bio Price Performance

CABA stock traded up $0.59 during midday trading on Friday, hitting $3.01. The stock had a trading volume of 4,574,412 shares, compared to its average volume of 2,356,309. The business has a 50-day moving average of $3.90 and a two-hundred day moving average of $6.32. Cabaletta Bio has a 52-week low of $1.76 and a 52-week high of $26.35.

Analyst Ratings Changes

CABA has been the subject of several recent analyst reports. UBS Group started coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. Evercore ISI lowered their price objective 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. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Friday, November 15th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cabaletta Bio has a consensus rating of “Buy” and a consensus target price of $27.30.

Institutional Trading of Cabaletta Bio

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cabaletta Bio during the 3rd quarter valued at about $32,000. Point72 DIFC Ltd purchased a new position in shares of Cabaletta Bio during the third quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after buying an additional 3,724 shares during the last quarter. Bayesian Capital Management LP bought a new position in Cabaletta Bio during the 1st quarter valued at approximately $191,000. Finally, Intech Investment Management LLC purchased a new position in Cabaletta Bio during the third quarter valued at $67,000.

About Cabaletta Bio

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.