Almitas Capital LLC Takes Position in Cabaletta Bio, Inc. $CABA

Key Points

• Almitas Capital LLC has acquired a new stake in Cabaletta Bio, Inc. by purchasing approximately 367,491 shares, valued at $509,000, representing 0.72% ownership of the company.
• Analysts maintain a generally positive outlook for Cabaletta Bio, with a majority rating it as a Buy and a consensus price target of $14.43.
• Cabaletta Bio recently reported a quarterly loss of ($0.73) EPS, which was below analysts' expectations of ($0.71), reflecting ongoing challenges in its clinical-stage development.

Almitas Capital LLC purchased a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 367,491 shares of the company's stock, valued at approximately $509,000. Almitas Capital LLC owned about 0.72% of Cabaletta Bio as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CABA. Point72 Asset Management L.P. lifted its stake in shares of Cabaletta Bio by 89.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company's stock worth $2,874,000 after purchasing an additional 598,607 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Cabaletta Bio by 195.8% in the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock worth $1,888,000 after purchasing an additional 550,700 shares during the period. Nuveen LLC bought a new position in shares of Cabaletta Bio in the 1st quarter worth approximately $602,000. Two Sigma Investments LP lifted its stake in shares of Cabaletta Bio by 78.8% in the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock worth $1,707,000 after purchasing an additional 331,417 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of Cabaletta Bio in the 4th quarter worth approximately $493,000.

Cabaletta Bio Trading Down 1.5%

CABA traded down $0.03 during trading hours on Monday, hitting $1.68. The company's stock had a trading volume of 623,813 shares, compared to its average volume of 1,534,398. The business's 50-day moving average price is $1.58 and its 200-day moving average price is $1.60. Cabaletta Bio, Inc. has a 12 month low of $0.99 and a 12 month high of $5.46. The stock has a market cap of $153.20 million, a price-to-earnings ratio of -0.62 and a beta of 2.86.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.02). On average, analysts forecast that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CABA. Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 price objective on shares of Cabaletta Bio in a research note on Friday. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Wednesday, June 11th. Citigroup decreased their target price on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Guggenheim raised their target price on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $14.50.

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.