First Turn Management LLC Makes New $3.98 Million Investment in Cabaletta Bio, Inc. (NASDAQ:CABA)

First Turn Management LLC purchased a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 175,359 shares of the company's stock, valued at approximately $3,981,000. First Turn Management LLC owned about 0.41% of Cabaletta Bio as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Macroview Investment Management LLC purchased a new stake in Cabaletta Bio during the fourth quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cabaletta Bio in the 3rd quarter worth $63,000. Amalgamated Bank boosted its position in shares of Cabaletta Bio by 24.7% in the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company's stock worth $71,000 after purchasing an additional 922 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Cabaletta Bio during the 4th quarter worth $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Cabaletta Bio during the third quarter worth about $115,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CABA shares. HC Wainwright increased their price objective 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. Citigroup raised their target price on Cabaletta Bio from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, April 5th. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a research report on Monday, February 5th. They set a "buy" rating and a $36.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, March 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cabaletta Bio has an average rating of "Buy" and a consensus target price of $34.33.

Cabaletta Bio Stock Up 13.0 %

Cabaletta Bio stock traded up $1.46 during mid-day trading on Wednesday, reaching $12.69. 1,105,059 shares of the company's stock were exchanged, compared to its average volume of 1,050,783. The company has a market cap of $593.96 million, a P/E ratio of -7.67 and a beta of 2.52. The company has a fifty day moving average of $15.86 and a 200-day moving average of $18.72. Cabaletta Bio, Inc. has a twelve month low of $9.02 and a twelve month high of $26.35.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). Equities research analysts expect that Cabaletta Bio, Inc. will post -1.82 earnings per share for the current fiscal year.

Cabaletta Bio 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.

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