Cabaletta Bio, Inc. (NASDAQ:CABA) Stake Reduced by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp cut its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,606 shares of the company’s stock after selling 2,750 shares during the quarter. CHURCHILL MANAGEMENT Corp owned about 0.10% of Cabaletta Bio worth $795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Macroview Investment Management LLC bought a new stake in Cabaletta Bio in the fourth quarter worth about $26,000. Tower Research Capital LLC TRC raised its holdings in Cabaletta Bio by 65.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $60,000 after buying an additional 1,042 shares during the period. Amalgamated Bank raised its holdings in Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock worth $71,000 after buying an additional 922 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Cabaletta Bio during the 4th quarter worth about $113,000. Finally, SG Americas Securities LLC acquired a new stake in Cabaletta Bio during the 4th quarter worth about $221,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on CABA. Citigroup boosted their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a report on Monday, June 17th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Cabaletta Bio in a report on Friday, June 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.44.

Cabaletta Bio Price Performance

Shares of NASDAQ CABA opened at $8.48 on Friday. The business has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $17.57. Cabaletta Bio, Inc. has a 52 week low of $7.64 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). Equities analysts expect that Cabaletta Bio, Inc. will post -2.07 earnings per share for the current year.

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.