Blue Owl Capital Holdings LP Acquires New Holdings in Cabaletta Bio, Inc. $CABA

Key Points

• Blue Owl Capital Holdings initiated a position in Cabaletta Bio during the second quarter, purchasing 714,710 shares valued at approximately $2.22 million, or about 0.44% of the company.
• Several major institutional investors also increased their holdings, including BlackRock, Adage Capital Partners, Millennium Management, T. Rowe Price and Woodline Partners.
• Cabaletta Bio reported a quarterly loss of $0.34 per share, beating estimates of a $0.37 loss. Analysts maintain a “Moderate Buy” consensus, with an average price target of $15.33, although ratings and targets remain mixed.

Blue Owl Capital Holdings LP bought a new position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 714,710 shares of the company's stock, valued at approximately $2,223,000. Blue Owl Capital Holdings LP owned about 0.44% of Cabaletta Bio as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Cabaletta Bio during the 2nd quarter worth $33,447,000. Adage Capital Partners GP L.L.C. grew its position in shares of Cabaletta Bio by 142.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company's stock valued at $13,421,000 after purchasing an additional 5,195,285 shares during the last quarter. Millennium Management LLC grew its position in shares of Cabaletta Bio by 298.5% in the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company's stock valued at $5,994,000 after purchasing an additional 2,050,099 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Cabaletta Bio by 17.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company's stock worth $21,590,000 after purchasing an additional 1,495,768 shares during the period. Finally, Woodline Partners LP increased its stake in shares of Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company's stock worth $4,997,000 after purchasing an additional 916,884 shares during the period.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock opened at $3.19 on Friday. The firm has a market cap of $540.83 million, a P/E ratio of -2.03 and a beta of 3.30. The firm's 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.07. Cabaletta Bio, Inc. has a twelve month low of $1.40 and a twelve month high of $4.23.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.03. On average, equities analysts forecast that Cabaletta Bio, Inc. will post -1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CABA shares. Wells Fargo & Company reduced their price objective on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating for the company in a research report on Friday, August 14th. Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Jefferies Financial Group reiterated a "buy" rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of Cabaletta Bio in a report on Monday, May 4th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.33.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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