Point72 Asset Management L.P. Boosts Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Point72 Asset Management L.P. grew its position in Cabaletta Bio, Inc. (NASDAQ:CABA) by 89.7% in the fourth quarter, HoldingsChannel reports. The fund owned 1,265,882 shares of the company’s stock after acquiring an additional 598,607 shares during the quarter. Point72 Asset Management L.P.’s holdings in Cabaletta Bio were worth $2,874,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Miller Financial Services LLC purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $33,000. Avanza Fonder AB purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $40,000. Intech Investment Management LLC boosted its stake in shares of Cabaletta Bio by 42.2% during the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after acquiring an additional 5,999 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $47,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Cabaletta Bio by 67.3% during the 4th quarter. Wells Fargo & Company MN now owns 40,412 shares of the company’s stock worth $92,000 after acquiring an additional 16,250 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Citigroup reduced their price target on shares of Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Morgan Stanley reduced their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. UBS Group reduced their price target on shares of Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Guggenheim upped their price target on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.33.

Cabaletta Bio Stock Down 2.1%

CABA opened at $1.88 on Wednesday. Cabaletta Bio, Inc. has a twelve month low of $0.99 and a twelve month high of $13.50. The company has a 50-day moving average price of $1.37 and a 200 day moving average price of $2.19. The company has a market cap of $95.40 million, a PE ratio of -0.87 and a beta of 2.72.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.04). As a group, sell-side analysts expect that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Cabaletta Bio Profile

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.