Millennium Management LLC Trims Stock Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Millennium Management LLC trimmed its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,613 shares of the company's stock after selling 1,217,300 shares during the quarter. Millennium Management LLC owned 1.05% of Cabaletta Bio worth $1,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Financial Services LLC acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at approximately $33,000. Intech Investment Management LLC lifted its stake in Cabaletta Bio by 42.2% in the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock valued at $46,000 after buying an additional 5,999 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Cabaletta Bio in the fourth quarter valued at approximately $47,000. Wells Fargo & Company MN boosted its holdings in shares of Cabaletta Bio by 67.3% in the fourth quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock valued at $92,000 after buying an additional 16,250 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Cabaletta Bio during the fourth quarter worth $94,000.

Cabaletta Bio Trading Up 13.8%

NASDAQ CABA traded up $0.30 during trading hours on Friday, hitting $2.48. The company's stock had a trading volume of 2,307,301 shares, compared to its average volume of 1,569,179. The company's 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $2.03. The company has a market capitalization of $125.84 million, a PE ratio of -1.15 and a beta of 2.81. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $13.50.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.04). Research analysts anticipate that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CABA. Morgan Stanley cut their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Guggenheim raised their price target 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. Wells Fargo & Company lowered their price objective on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, UBS Group reduced their target price on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $20.33.

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.