Point72 Asset Management L.P. Has $2.87 Million Stock Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

Point72 Asset Management L.P. increased its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 89.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,265,882 shares of the company's stock after buying an additional 598,607 shares during the period. Point72 Asset Management L.P. owned 2.59% of Cabaletta Bio worth $2,874,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BIT Capital GmbH bought a new stake in shares of Cabaletta Bio in the 4th quarter valued at about $431,000. Renaissance Technologies LLC acquired a new position in Cabaletta Bio during the fourth quarter valued at approximately $522,000. T. Rowe Price Investment Management Inc. increased its stake 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 valued at $9,248,000 after purchasing an additional 400,282 shares in the last quarter. Barclays PLC increased its stake in Cabaletta Bio by 48.2% in the third quarter. Barclays PLC now owns 61,130 shares of the company's stock valued at $288,000 after purchasing an additional 19,891 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Cabaletta Bio by 67.3% in the fourth quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock worth $92,000 after purchasing an additional 16,250 shares during the period.

Cabaletta Bio Stock Down 1.7%

Shares of CABA stock traded down $0.03 during trading on Monday, reaching $1.75. The company's stock had a trading volume of 689,980 shares, compared to its average volume of 1,555,935. Cabaletta Bio, Inc. has a one year low of $0.99 and a one year high of $13.50. The business has a fifty day moving average price of $1.37 and a 200-day moving average price of $2.12. The company has a market cap of $88.80 million, a price-to-earnings ratio of -0.81 and a beta of 2.72.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup lowered their price target on Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a report on Friday, May 16th. UBS Group lowered their target price on Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Guggenheim raised their target price on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reduced their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $20.33.

About Cabaletta Bio

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.