Acadian Asset Management LLC Acquires 182,406 Shares of Cabaletta Bio, Inc. $CABA

Key Points

• Acadian Asset Management LLC has increased its holdings in Cabaletta Bio, Inc. by 36.5%, owning 682,670 shares worth approximately $942,000 as of the end of the most recent quarter.
• Research firms have set a strong consensus rating for Cabaletta Bio, with a Buy rating and an average price target of $14.50.
• Cabaletta Bio's stock is currently trading at $2.18, showing significant gains from its twelve month low of $0.99.

Acadian Asset Management LLC lifted its position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 36.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,670 shares of the company's stock after purchasing an additional 182,406 shares during the quarter. Acadian Asset Management LLC owned 1.35% of Cabaletta Bio worth $942,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Cabaletta Bio during the fourth quarter worth $118,000. Bank of America Corp DE boosted its holdings in Cabaletta Bio by 14.2% in the fourth quarter. Bank of America Corp DE now owns 546,461 shares of the company's stock valued at $1,240,000 after acquiring an additional 67,787 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Cabaletta Bio by 89.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company's stock valued at $2,874,000 after acquiring an additional 598,607 shares during the last quarter. Two Sigma Investments LP lifted its stake in Cabaletta Bio by 78.8% in the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock valued at $1,707,000 after buying an additional 331,417 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock valued at $1,888,000 after buying an additional 550,700 shares during the period.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock traded up $0.01 on Friday, reaching $2.19. 5,216,595 shares of the company's stock were exchanged, compared to its average volume of 1,707,777. The company has a market capitalization of $200.30 million, a P/E ratio of -0.81 and a beta of 2.86. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $5.46. The firm's 50-day moving average is $1.63 and its two-hundred day moving average is $1.60.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 target price on shares of Cabaletta Bio in a research report on Friday, September 5th. HC Wainwright reissued a "buy" rating and issued a $25.00 target price on shares of Cabaletta Bio in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Cabaletta Bio presently has an average rating of "Buy" and a consensus price target of $14.50.

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.