Adage Capital Partners GP L.L.C. Acquires 597,828 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Adage Capital Partners GP L.L.C. grew its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,634,473 shares of the company's stock after purchasing an additional 597,828 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 7.44% of Cabaletta Bio worth $8,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cabaletta Bio by 10.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company's stock valued at $9,248,000 after purchasing an additional 400,282 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Cabaletta Bio during the 4th quarter valued at $94,000. MYDA Advisors LLC bought a new position in shares of Cabaletta Bio during the 4th quarter valued at $389,000. Barclays PLC raised its holdings in shares of Cabaletta Bio by 17.2% during the 4th quarter. Barclays PLC now owns 71,617 shares of the company's stock valued at $163,000 after purchasing an additional 10,487 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Cabaletta Bio in the 4th quarter worth $522,000.

Cabaletta Bio Stock Performance

Shares of CABA opened at $1.31 on Tuesday. The company has a 50-day simple moving average of $1.51 and a 200-day simple moving average of $2.48. The firm has a market capitalization of $66.47 million, a P/E ratio of -0.61 and a beta of 2.44. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $13.50.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.65) EPS for the quarter, meeting analysts' consensus estimates of ($0.65). As a group, equities analysts forecast that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CABA. Guggenheim reissued a "buy" rating and set a $23.00 target price on shares of Cabaletta Bio in a research report on Tuesday, April 1st. HC Wainwright reissued a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Morgan Stanley cut 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 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. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $21.00.

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.

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