Chardan Capital launched its Cabaletta Bio [CABA] rating to the equivalent of Buy and assigned the price target of $21.0, in a research note dated 2021-01-08. That figure represents around a 60.67% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with Morgan Stanley’s analysts assigning the shares to “an Overweight” rating in a research note to investors issued in mid November. Meanwhile, Evercore ISI had launched its coverage on CABA with “an Outperform”, in a research note produced for clients November 19, 2019. In addition, Cowen launched coverage on November 19, 2019. The research firm rated CABA “an Outperform”.
Is Cabaletta Bio Inc. [NASDAQ:CABA] a Good Buy Right Now?
It should be noted that CABA technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Buy. The average signal changed from 40% Buy in the last week and compares with 100% Buy in the past month. Data from Cabaletta Bio Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.14 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 89830.0 shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 85398.0 shares.
CABA Price Performance
On Wall Street, Cabaletta Bio Inc. [NASDAQ:CABA] finished Thursday’s session up 1.08% at $13.07. The stock went up to $13.42 at the same session while its lowest single day price was $12.75. In the last five days, it saw a rise of about 6.69%, Cabaletta Bio Inc. shares gained by almost 4.73% since the beginning of the year. However, the share price has dropped to as low as -33.42% below its one year high. On 01/07/21, the company shares recorded $13.42, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $12.24. The company’s shares have declined by -15.13% in the past year. The 50-day SMA achieved is $13.57 while the 200-day SMA is $10.69. Volume dropped to 77928.0 from 0.12 million in the previous session.
CABA Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 12.74 level, and in case of violation of this particular level, it will cause more drop to 12.41 level. On the upper level, 13.75 is still the key resistance. The stock may increase to the subsequent resistance at 13.41. The Relative Strength Index (RSI) pinned on the 14-day chart is 47.11, implying a neutral technical stance while the MACD stands at 0.13, meaning price will decrease in the next trading period. Percent R indicator moved to 43.94%, implying low price movement. Stochastic %K at 45.30% suggest selling the stock.
What is the short interest in Cabaletta Bio Inc.?
Short interest in the Cabaletta Bio Inc. stock has plunged, decreasing by -0.15 million shares to total 1.36 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.21 million, data from Yahoo Finance shows. The increase of 11.03% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 7.07% of the overall float for the stock.
Cabaletta Bio Inc.’s Biggest Shareholders: Who Owns Cabaletta Bio Inc. [CABA]?
Filings by Adage Capital Management LP showed that the firm now holds a total of 3,404,760 shares or roughly 14.15% of the outstanding CABA shares. This means their shares have reduced by -160,249 from the 3,404,760 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Cormorant Asset Management LP updated stake is worth $30,761,454. Details in the latest 13F filings reveal that Tavistock Life Sciences Co. disposed off their 0.00% stake valued at $23,307,452 while Redmile Group LLC cut theirs at $20,632,370. During the last quarter, Tavistock Life Sciences Co. liquidated 0 of its shares in Cabaletta Bio Inc. while Redmile Group LLC sold -39,312 shares. The Baker Bros. Advisors LP’s holdings currently number 636,363 shares at $8317264.41. According to the firm’s last 13F report, Millennium Management LLC shares in the company at filing stood at 601,830 shares, roughly $8,955,230.