Cabaletta Bio, Inc. $CABA Shares Bought by Jennison Associates LLC

Key Points

• Jennison Associates LLC boosted its stake in Cabaletta by 4.8% in Q4 and now owns 8,905,699 shares—about 9.25% of the company—after acquiring 408,162 shares valued at roughly $19.5 million.
• Several other institutions also increased positions, most notably Adage Capital (+142.9% to 8,829,758 shares), with Vanguard, Woodline, JPMorgan and Two Sigma adding shares, indicating rising institutional accumulation.
• Cabaletta shares trade near $2.94 (market cap ~$327M) with negative earnings, yet analysts show a consensus "Moderate Buy" and an average price target of $17.00 despite mixed recent ratings.

Jennison Associates LLC lifted its position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,905,699 shares of the company's stock after acquiring an additional 408,162 shares during the quarter. Jennison Associates LLC owned 9.25% of Cabaletta Bio worth $19,503,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CABA. Adage Capital Partners GP L.L.C. grew its position in shares of Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company's stock worth $13,421,000 after acquiring an additional 5,195,285 shares in the last quarter. Woodline Partners LP grew its position in shares of Cabaletta Bio by 75.2% in the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company's stock worth $4,997,000 after acquiring an additional 916,884 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cabaletta Bio by 21.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company's stock worth $9,806,000 after acquiring an additional 740,032 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cabaletta Bio by 565.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company's stock worth $1,258,000 after acquiring an additional 456,853 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Cabaletta Bio by 86.4% in the 3rd quarter. Two Sigma Investments LP now owns 470,475 shares of the company's stock worth $1,101,000 after acquiring an additional 218,118 shares in the last quarter.

Cabaletta Bio Trading Down 1.7%

Shares of NASDAQ CABA opened at $2.94 on Friday. The company has a market cap of $327.28 million, a price-to-earnings ratio of -1.29 and a beta of 3.18. Cabaletta Bio, Inc. has a 12-month low of $1.11 and a 12-month high of $3.78. The stock's 50 day simple moving average is $3.08 and its 200 day simple moving average is $2.70.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. As a group, equities analysts forecast that Cabaletta Bio, Inc. will post -1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

CABA has been the subject of several research reports. Morgan Stanley decreased their target price on Cabaletta Bio from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, March 24th. Guggenheim lifted their target price on Cabaletta Bio from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cabaletta Bio in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded Cabaletta Bio from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Cabaletta Bio 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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