Federated Hermes Inc. Buys 196,064 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Key Points

• Federated Hermes Inc. increased its stake in Cabaletta Bio, Inc. by 133.1%, now owning 343,411 shares valued at approximately $476,000.
• Cabaletta Bio recently reported a quarterly loss of ($0.73) per share, missing analyst expectations by $0.02.
• Analysts have mixed views on Cabaletta Bio, with price targets ranging from $13.00 to $25.00, and a consensus rating of "Buy".

Federated Hermes Inc. lifted its position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 133.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 343,411 shares of the company's stock after acquiring an additional 196,064 shares during the period. Federated Hermes Inc. owned about 0.68% of Cabaletta Bio worth $476,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CABA. Point72 Asset Management L.P. grew its position in Cabaletta Bio by 89.7% during 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 purchasing an additional 598,607 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Cabaletta Bio by 19.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company's stock worth $8,250,000 after acquiring an additional 597,828 shares in the last quarter. Two Sigma Advisers LP grew its position in Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock worth $1,888,000 after acquiring an additional 550,700 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Cabaletta Bio by 10.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company's stock worth $9,248,000 after acquiring an additional 400,282 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Cabaletta Bio by 78.8% in the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock worth $1,707,000 after acquiring an additional 331,417 shares in the last quarter.

Cabaletta Bio Stock Performance

Shares of CABA stock traded down $0.03 during mid-day trading on Monday, reaching $1.33. The company's stock had a trading volume of 1,126,764 shares, compared to its average volume of 1,536,763. Cabaletta Bio, Inc. has a 1-year low of $0.99 and a 1-year high of $6.26. The company has a market cap of $67.48 million, a P/E ratio of -0.49 and a beta of 2.74. The firm's 50-day moving average is $1.73 and its two-hundred day moving average is $1.72.

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

Analyst Ratings Changes

CABA has been the subject of several recent research reports. Citigroup decreased their target price on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, May 16th. HC Wainwright restated a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Wednesday, June 11th. Finally, Guggenheim boosted their price objective 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 hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cabaletta Bio presently has a consensus rating of "Buy" and a consensus price target of $14.43.

Cabaletta Bio 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.