Cabaletta Bio Inc. (NASDAQ:CABA) finished Friday with an addition of $1.35 to close at $13.62, an upside of 11.00 percent. An average of 360,220 shares of common stock have been traded in the last five days. There was a gain of $1.57 in the past week, and it reached a new high 39 times over the past 12 months. The last 20 days have seen an average of 400,935 shares traded, while the 50-day average volume stands at 502,604.
CABA stock has increased by 12.01% in the last month. The company shares reached their 1-month lowest point of $11.63 on 07/27/23. With the stock rallying to its 52-week high on 07/19/23, shares of the company touched a low of $0.59 and a high of $14.45 in 52 weeks. It has reached a new high 18 times so far this year and achieved 47.24% or $4.37 in price. In spite of this, the price is down -5.74% from the 52-week high.
Insider Transactions
CABA stock investors should be aware that Cabaletta Bio Inc. (CABA) stock had its last reported insider trading activity 24 days ago on Jul 19. In this transaction, the insider spent $152,022., Binder Gwendolyn, disposed of 11,000 shares at a price of $12.99 on Jun 20. The insider now owns more than $142,925 worth of shares. Prior to that, Binder Gwendolyn went on to Sale 22,000 shares at $11.81 each on May 19. An amount of $259,833 was transacted.
Valuation Metrics
Cabaletta Bio Inc. (CABA) stock’s beta is 2.57. Other valuation ratios to consider include the price-to-book (PB) ratio at 5.26.
Financial Health
The quick ratio of Cabaletta Bio Inc. for the three months ended June 29 was 10.30, and the current ratio was 10.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cabaletta Bio Inc.’s return on assets was -54.00%.
Earnings Surprise
For the three-month period that ended June 29, Cabaletta Bio Inc. had $48.26 million in cash. The company posted a net income of -$14.49 million in the quarter, while revenues of -$15.85 million were grew 10.9%. The analyst consensus anticipated Cabaletta Bio Inc.’s latest quarter earnings to come in at -$0.44 per share, but it turned out to be -$0.37, a 15.90% surprise. At the end of the quarter ending June 29, Cabaletta Bio Inc.’s stock balance sheet showed total liabilities of 10.5 million. Shareholders own equity worth $39.8 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cabaletta Bio Inc. (CABA) price momentum. RSI 9-day as of the close on 11 August was 63.45%, suggesting the stock is Neutral, with historical volatility in this time frame at 129.21%.
As of today, CABA’s price is $12.47 +13.03% or $1.57 from its 5-day moving average. CABA is currently trading +12.47% higher than its 20-day SMA and +78.27% higher than its 100-day SMA. However, the stock’s current price level is +34.99% above the SMA50 and +687.28% above the SMA200.
The stochastic %K and %D were 48.59% and 31.31%, respectively, and the average true range (ATR) was 0.90. With the 14-day stochastic at 89.04% and the average true range at 0.91, the RSI (14) stands at 58.56%. The stock has reached 0.32 on the 9-day MACD Oscillator while the 14-day reading was at 0.28.
Analyst Ratings
Guggenheim launched coverage on Cabaletta Bio Inc. (NASDAQ: CABA) in its analyst report released on July 18, 2023. The firm assigned the stock a Buy rating. The consensus rating for Cabaletta Bio Inc. (CABA) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CABA, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.
What is CABA’s price target for the next 12 months?
Analysts predict a range of price targets between $10.00 and $34.00, with a median target of $16.50. Taking a look at these predictions, the average price target given by analysts for Cabaletta Bio Inc. (CABA) stock is $19.33.
