Sep. 3 at 4:33 AM
$CABA — This is one of the craziest parts of the setup.
Roughly 94% of the shares are institutionally owned, yet about 27% of the float is sold short — nearly 43 MILLION shares.
So who is shorting it?
Probably not just retail. With numbers this large, you’re likely looking at a mix of hedge funds, biotech shorts, quant funds and market-neutral/arbitrage strategies betting against the clinical story or hedging other positions.
Meanwhile the long side includes names like Jennison, T. Rowe Price, Bain Capital Life Sciences, BlackRock, Adage, State Street, Vanguard and Cormorant.
That’s what makes this fascinating:
94% institutional ownership
vs.
27% short float
A LOT of sophisticated money is positioned on both sides of this trade.
If the clinical thesis keeps getting stronger and the stock keeps climbing, somebody is eventually going to be very wrong.
$CABA 🔥
