Nuveen LLC Purchases New Position in Cabaletta Bio, Inc. $CABA

Key Points

• Nuveen LLC has invested approximately $602,000 to acquire 434,389 shares of Cabaletta Bio, Inc., representing 0.86% of the company as of its latest SEC filing.
• Cabaletta Bio reported earnings of ($0.73) per share, missing analysts' expectations by (0.02), and is projected to post an average of (2.34) EPS for the current fiscal year.
• Analysts maintain a consensus Buy rating on Cabaletta Bio with an average target price of $14.43, with forecasts ranging from $13.00 to $25.00 from various research firms.

Nuveen LLC bought a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 434,389 shares of the company's stock, valued at approximately $602,000. Nuveen LLC owned 0.86% of Cabaletta Bio as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Cabaletta Bio by 17.2% during the fourth quarter. Barclays PLC now owns 71,617 shares of the company's stock valued at $163,000 after purchasing an additional 10,487 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cabaletta Bio by 9.9% during the 1st quarter. Bank of New York Mellon Corp now owns 155,174 shares of the company's stock valued at $215,000 after purchasing an additional 14,026 shares during the period. Wells Fargo & Company MN increased its stake in Cabaletta Bio by 67.3% in the 4th quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock worth $92,000 after acquiring an additional 16,250 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Cabaletta Bio during the 4th quarter valued at about $47,000. Finally, Wellington Management Group LLP lifted its holdings in Cabaletta Bio by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 180,157 shares of the company's stock worth $409,000 after buying an additional 23,106 shares during the period.

Analyst Ratings Changes

A number of research firms have weighed in on CABA. Guggenheim increased their target price on Cabaletta Bio from $23.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup lowered their target price on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating on the stock in a report on Friday, May 16th. HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Wednesday, June 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 price target on shares of Cabaletta Bio in a report on Friday. One 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, the stock has a consensus rating of "Buy" and a consensus price target of $14.50.

Cabaletta Bio Stock Down 1.5%

Shares of CABA stock traded down $0.03 during mid-day trading on Monday, hitting $1.68. 758,148 shares of the company's stock were exchanged, compared to its average volume of 1,535,068. The stock has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.60. The stock has a market cap of $153.20 million, a price-to-earnings ratio of -0.62 and a beta of 2.86. Cabaletta Bio, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $5.46.

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