917,100 Shares in Cabaletta Bio, Inc. $CABA Acquired by Stonepine Capital Management LLC

Key Points

• Stonepine Capital Management acquired 917,100 Cabaletta Bio shares worth approximately $2.85 million, representing a 0.54% stake and its 22nd-largest portfolio holding.
• Several institutional investors increased or initiated positions, including Jennison Associates, Renaissance Technologies, Dimensional Fund Advisors, GSA Capital Partners and Blue Owl Capital.
• CABA traded at $3.12, within a 52-week range of $1.40 to $4.23. Analyst opinions remain mixed, but the stock has a consensus “Moderate Buy” rating and a $15.33 average price target.

Stonepine Capital Management LLC purchased a new position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 917,100 shares of the company's stock, valued at approximately $2,852,181. Cabaletta Bio comprises 0.0% of Stonepine Capital Management LLC's investment portfolio, making the stock its 22nd largest holding. Stonepine Capital Management LLC owned 0.54% of Cabaletta Bio at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in shares of Cabaletta Bio by 4.8% in the 4th quarter. Jennison Associates LLC now owns 8,905,699 shares of the company's stock valued at $19,503,000 after purchasing an additional 408,162 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Cabaletta Bio during the second quarter valued at about $2,079,000. Blue Owl Capital Holdings LP bought a new stake in Cabaletta Bio in the second quarter worth $2,223,000. Renaissance Technologies LLC lifted its position in Cabaletta Bio by 33.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company's stock valued at $5,479,000 after acquiring an additional 514,080 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Cabaletta Bio by 63.8% during the first quarter. Dimensional Fund Advisors LP now owns 740,648 shares of the company's stock worth $1,990,000 after purchasing an additional 288,609 shares in the last quarter.

Analyst Upgrades and Downgrades

CABA has been the subject of several analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Cabaletta Bio in a research report on Monday, May 4th. TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on shares of Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cabaletta Bio has a consensus rating of "Moderate Buy" and a consensus target price of $15.33.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock traded down $0.26 during trading on Friday, reaching $3.12. The company had a trading volume of 3,234,148 shares, compared to its average volume of 3,798,124. Cabaletta Bio, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $4.23. The company has a market cap of $528.96 million, a price-to-earnings ratio of -1.99 and a beta of 3.30. The firm's fifty day moving average is $2.91 and its 200-day moving average is $3.09.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.03. On average, research analysts anticipate that Cabaletta Bio, Inc. will post -1.34 EPS for the current fiscal year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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