Cubist Systematic Strategies LLC Sells 355,378 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Cubist Systematic Strategies LLC reduced its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 62.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,802 shares of the company's stock after selling 355,378 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.45% of Cabaletta Bio worth $494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC raised its position in Cabaletta Bio by 15.6% in the 4th quarter. LPL Financial LLC now owns 42,386 shares of the company's stock worth $96,000 after purchasing an additional 5,716 shares during the last quarter. Intech Investment Management LLC raised its position in Cabaletta Bio by 42.2% in the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock worth $46,000 after purchasing an additional 5,999 shares during the last quarter. SG Americas Securities LLC raised its position in Cabaletta Bio by 23.3% in the 4th quarter. SG Americas Securities LLC now owns 43,259 shares of the company's stock worth $98,000 after purchasing an additional 8,161 shares during the last quarter. Barclays PLC raised its position in Cabaletta Bio by 17.2% in the 4th quarter. Barclays PLC now owns 71,617 shares of the company's stock worth $163,000 after purchasing an additional 10,487 shares during the last quarter. Finally, Miller Financial Services LLC bought a new position in Cabaletta Bio in the 4th quarter worth approximately $33,000.

Cabaletta Bio Trading Down 6.1%

Shares of Cabaletta Bio stock traded down $0.11 during trading hours on Thursday, reaching $1.69. 309,284 shares of the company's stock were exchanged, compared to its average volume of 1,546,754. The company has a 50 day moving average of $1.37 and a two-hundred day moving average of $2.18. Cabaletta Bio, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $13.50. The stock has a market cap of $85.55 million, a P/E ratio of -0.79 and a beta of 2.72.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted 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, analysts expect that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on CABA. Citigroup dropped their price objective 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. Wells Fargo & Company dropped 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. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Morgan Stanley dropped 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, Guggenheim upped their target price on shares of Cabaletta Bio from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a hold rating, eight have issued 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 an average price target of $20.33.

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.