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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Miller Financial Services LLC acquired a new stake in Cabaletta Bio during the fourth 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 increased its position in 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 purchasing an additional 5,999 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Cabaletta Bio in the fourth quarter valued at approximately $47,000. Finally, Wells Fargo & Company MN lifted its position in Cabaletta Bio by 67.3% during the fourth quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock valued at $92,000 after buying an additional 16,250 shares in the last quarter.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock traded down $0.04 during midday trading on Tuesday, reaching $1.88. 2,146,278 shares of the company's stock traded hands, compared to its average volume of 1,547,348. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $13.50. The company's 50 day simple moving average is $1.37 and its 200 day simple moving average is $2.19. The company has a market cap of $95.40 million, a price-to-earnings ratio of -0.87 and a beta of 2.72.

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

Analyst Ratings Changes

CABA has been the topic of several research reports. Morgan Stanley cut their price objective on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Guggenheim raised their target price on Cabaletta Bio from $23.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup decreased their price target on Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a report on Friday. Wells Fargo & Company lowered their price objective 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. Finally, HC Wainwright reiterated a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.33.

Cabaletta Bio Company 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.