New York, January 22, 2026, 08:14 (ET) — Premarket
Cabaletta Bio shares climbed roughly 11% in premarket trading Thursday, following a nearly 7% gain the previous day, fueled by a series of insider-buying reports. The stock was last indicated at $2.60, up from Wednesday’s close of $2.34. 1
This surge in buying is significant because Cabaletta is a small, cash-burning biotech where sentiment shifts quickly on minor signals. When several insiders purchase shares openly on the same day, some investors see it as a sign of conviction—or at least a statement on the company’s valuation.
Cabaletta is working on rese-cel, an experimental CD19 CAR-T therapy crafted from a patient’s own blood, targeting autoimmune diseases. Without any approved treatments in this space, the stock often jitters around trial updates, regulatory comments, and occasionally, thin trading volume dictating who steps in to buy.
A Form 4 submitted to the U.S. Securities and Exchange Commission showed CEO Steven Nichtberger purchased 45,000 shares on Jan. 21 at a weighted average price of $2.2395. This move raised his direct stake to 1,031,483 shares. 2
On Jan. 21, several executives and directors made stock purchases. Chief commercial officer Steve Gavel picked up 22,170 shares, while chief medical officer David J. Chang added 8,800 shares and general counsel Michael Gerard bought 6,600. Director Mark Simon acquired 11,061 shares, and President of science and technology Gwendolyn Binder purchased 11,312. Director Shawn Tomasello bought 22,725 shares through an LLC, and director Catherine Bollard acquired 4,405 shares, according to filings. 3
According to The Wall Street Journal, Wednesday’s volume clocked in around 2.09 million shares, with the stock fluctuating between $2.18 and $2.35.
Autoimmune CAR-T is a hot area in biotech right now. Kyverna Therapeutics, along with several others, is working to extend CD19-targeted cell therapies beyond cancer, wagering that thorough B-cell depletion might “reset” immune dysfunction in certain patients.
But insider buying doesn’t offer a clear-cut signal. Cell therapies face hurdles like safety, durability, and manufacturing issues, while early-stage programs can swing wildly in value based on results from just a handful of patients.
On Jan. 12, Nichtberger outlined the company’s plan to “focus on enrolling our pivotal myositis trial,” aiming to file the rese-cel biologics license application in 2027. Cabaletta also anticipates full Phase 1/2 data for lupus, systemic sclerosis, and myasthenia gravis in the first half of 2026. Updates on registrational alignment are expected for systemic sclerosis in 1H26 and for myasthenia gravis around mid-2026. 4
