Goldman Sachs Group Inc. Trims Position in Cabaletta Bio, Inc. $CABA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Cabaletta Bio, Inc. by 35.4%, now holding approximately 330,541 shares valued at $458,000.
• Several institutional investors, including BNP Paribas and Bank of America, have increased their stakes in Cabaletta Bio, indicating ongoing interest in the company.
• Analysts maintain a consensus rating of "Buy" for CABA, with target prices ranging from $14.50 to $25.00.

Goldman Sachs Group Inc. cut its position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 330,541 shares of the company's stock after selling 180,974 shares during the period. Goldman Sachs Group Inc. owned about 0.65% of Cabaletta Bio worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in Cabaletta Bio during the fourth quarter valued at $118,000. Bank of America Corp DE grew its stake in Cabaletta Bio by 14.2% during 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 in the last quarter. Two Sigma Investments LP grew its stake in Cabaletta Bio by 78.8% during the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock valued at $1,707,000 after acquiring an additional 331,417 shares in the last quarter. Two Sigma Advisers LP grew its stake in Cabaletta Bio by 195.8% during the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock valued at $1,888,000 after acquiring an additional 550,700 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Cabaletta Bio by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 180,157 shares of the company's stock valued at $409,000 after acquiring an additional 23,106 shares in the last quarter.

Analyst Ratings Changes

CABA has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 target price on shares of Cabaletta Bio in a research note on Friday, September 5th. HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $14.50.

Cabaletta Bio Stock Up 2.2%

CABA stock opened at $2.36 on Friday. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $5.46. The company has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $1.62. The firm has a market capitalization of $215.85 million, a P/E ratio of -0.87 and a beta of 2.86.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released 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). As a group, analysts anticipate that Cabaletta Bio, Inc. will post -2.34 EPS for the current year.

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.

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