24-May-2024
Wall Street Analysts Are Bullish on Top Healthcare Picks
TipRanks (Fri, 24-May 6:30 AM ET)
Cabaletta Bio Reports First Quarter 2024 Financial Results and Provides Business Update
Globe Newswire (Wed, 15-May 7:00 AM ET)
Globe Newswire (Mon, 13-May 8:00 AM ET)
Globe Newswire (Thu, 21-Mar 7:00 AM ET)
Globe Newswire (Wed, 20-Mar 7:00 AM ET)
Cabaletta Bio Inc is a clinical-stage biotechnology company focused on the discovery and development of engineered T cell therapies, and exploring their potential to provide a deep and durable, perhaps curative, treatment, for patients with B cell-mediated autoimmune diseases. Its proprietary technology utilizes Chimeric AutoAntibody Receptor, or CAART cells that are designed to selectively bind and eliminate only specific B cells that produce disease-causing autoantibodies, or pathogenic B cells, while sparing normal B cells. Its CABA platform encompasses two strategies CARTA (chimeric antigen receptor T cells for autoimmunity) and CAART (chimeric autoantibody T cells) has the potential to be applied across a broad range of autoimmune diseases.
Cabaletta Bio trades on the NASDAQ stock market under the symbol CABA.
As of May 24, 2024, CABA stock price declined to $10.92 with 477,812 million shares trading.
CABA has a beta of 2.44, meaning it tends to be more sensitive to market movements. CABA has a correlation of 0.15 to the broad based SPY ETF.
CABA has a market cap of $526.80 million. This is considered a Small Cap stock.
In the last 3 years, CABA stock traded as high as $26.35 and as low as $.59.
The top ETF exchange traded funds that CABA belongs to (by Net Assets): XBI, VTI, IWM, VXF, LABU.
CABA has underperformed the market in the last year with a price return of +6.3% while the SPY ETF gained +30.4%. CABA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -51.2% and -3.0%, respectively, while the SPY returned +4.6% and +1.7%, respectively.
CABA support price is $10.56 and resistance is $11.86 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CABA stock will trade within this expected range on the day.