T. Rowe Price Investment Management Inc. Purchases 400,282 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,074,006 shares of the company’s stock after acquiring an additional 400,282 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.08% of Cabaletta Bio worth $9,248,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Cabaletta Bio by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,110,702 shares of the company’s stock valued at $2,522,000 after buying an additional 16,058 shares during the last quarter. HealthInvest Partners AB boosted its holdings in shares of Cabaletta Bio by 46.8% during the 4th quarter. HealthInvest Partners AB now owns 247,454 shares of the company’s stock worth $554,000 after buying an additional 78,932 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Cabaletta Bio during the fourth quarter worth approximately $522,000. BIT Capital GmbH bought a new stake in Cabaletta Bio in the 4th quarter valued at $431,000. Finally, Wellington Management Group LLP grew its stake in shares of Cabaletta Bio by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 180,157 shares of the company’s stock valued at $409,000 after acquiring an additional 23,106 shares in the last quarter.

Analyst Ratings Changes

CABA has been the topic of a number of analyst reports. Guggenheim reiterated a “buy” rating and set a $23.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, April 1st. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Wells Fargo & Company reduced their price objective 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. Morgan Stanley decreased their target price 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. Finally, UBS Group cut their target price on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.00.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $1.27 on Monday. Cabaletta Bio, Inc. has a 1-year low of $0.99 and a 1-year high of $13.50. The firm has a market capitalization of $64.44 million, a price-to-earnings ratio of -0.59 and a beta of 2.44. The firm’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $2.50.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). On average, research analysts forecast that Cabaletta Bio, Inc. will post -2.34 EPS for the current year.

About Cabaletta Bio

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.