Fred Alger Management LLC Sells 1,803,170 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Fred Alger Management LLC decreased its position in Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 43.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,316,224 shares of the company's stock after selling 1,803,170 shares during the period. Fred Alger Management LLC owned approximately 4.74% of Cabaletta Bio worth $5,258,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cabaletta Bio by 10.9% during the 4th 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. Adage Capital Partners GP L.L.C. lifted its stake in Cabaletta Bio by 19.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company's stock valued at $8,250,000 after buying an additional 597,828 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cabaletta Bio by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,110,702 shares of the company's stock valued at $2,522,000 after buying an additional 16,058 shares during the period. Bank of America Corp DE increased its position in shares of Cabaletta Bio by 14.2% during the fourth quarter. Bank of America Corp DE now owns 546,461 shares of the company's stock worth $1,240,000 after acquiring an additional 67,787 shares in the last quarter. Finally, HealthInvest Partners AB raised its holdings in shares of Cabaletta Bio by 46.8% during the fourth quarter. HealthInvest Partners AB now owns 247,454 shares of the company's stock worth $554,000 after acquiring an additional 78,932 shares during the period.

Cabaletta Bio Price Performance

NASDAQ CABA traded up $0.39 on Thursday, hitting $1.69. 4,319,075 shares of the stock were exchanged, compared to its average volume of 1,442,536. The business's fifty day moving average is $1.36 and its 200 day moving average is $2.25. The company has a market capitalization of $85.50 million, a PE ratio of -0.79 and a beta of 2.72. 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 quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.04). Analysts predict that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CABA shares. Guggenheim increased their target price on Cabaletta Bio from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday. Wells Fargo & Company dropped their target price on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" 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 research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cabaletta Bio has a consensus rating of "Buy" and an average price target of $21.25.

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.