Vanguard Group Inc. increased its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,968,108 shares of the company's stock after buying an additional 246,596 shares during the period. Vanguard Group Inc. owned 4.59% of Cabaletta Bio worth $29,955,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CABA. Fred Alger Management LLC lifted its position in Cabaletta Bio by 445.6% during the 1st quarter. Fred Alger Management LLC now owns 4,015,310 shares of the company's stock worth $33,207,000 after buying an additional 3,279,361 shares in the last quarter. BlackRock Inc. lifted its position in Cabaletta Bio by 637.1% during the 2nd quarter. BlackRock Inc. now owns 1,709,718 shares of the company's stock worth $22,072,000 after buying an additional 1,477,768 shares in the last quarter. Perceptive Advisors LLC lifted its position in Cabaletta Bio by 128.3% during the 1st quarter. Perceptive Advisors LLC now owns 724,777 shares of the company's stock worth $5,994,000 after buying an additional 407,323 shares in the last quarter. Redmile Group LLC lifted its position in Cabaletta Bio by 29.5% during the 3rd quarter. Redmile Group LLC now owns 1,774,252 shares of the company's stock valued at $27,004,000 after purchasing an additional 403,953 shares during the period. Finally, State Street Corp lifted its position in Cabaletta Bio by 459.6% during the 2nd quarter. State Street Corp now owns 461,497 shares of the company's stock valued at $5,958,000 after purchasing an additional 379,030 shares during the period.
Insider Buying and Selling
In other Cabaletta Bio news, insider Gwendolyn Binder sold 11,000 shares of the company's stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $19.59, for a total transaction of $215,490.00. Following the completion of the transaction, the insider now owns 20,000 shares of the company's stock, valued at approximately $391,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.33% of the stock is owned by company insiders.
Cabaletta Bio Stock Performance
NASDAQ CABA traded down $0.88 during trading hours on Friday, reaching $17.03. 1,005,155 shares of the company's stock were exchanged, compared to its average volume of 937,052. The company's 50-day moving average is $20.59 and its two-hundred day moving average is $18.91. Cabaletta Bio, Inc. has a one year low of $7.69 and a one year high of $26.35. The company has a market capitalization of $821.53 million, a price-to-earnings ratio of -10.51 and a beta of 2.41.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CABA shares. Wells Fargo & Company upped their target price on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. Citigroup upped their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. HC Wainwright upped their target price on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, April 5th. Finally, Jefferies Financial Group assumed coverage on Cabaletta Bio in a research note on Monday, February 5th. They issued a "buy" rating and a $36.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $34.33.
Read Our Latest Analysis on Cabaletta Bio
About Cabaletta Bio
(
Free Report)
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.
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