Wellington Management Group LLP Grows Stake in Cabaletta Bio, Inc. (NASDAQ:CABA)

Wellington Management Group LLP grew its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 119.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,876 shares of the company’s stock after purchasing an additional 293,306 shares during the period. Wellington Management Group LLP owned approximately 1.26% of Cabaletta Bio worth $12,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CABA. Macroview Investment Management LLC purchased a new position in Cabaletta Bio in the fourth quarter worth $26,000. Tower Research Capital LLC TRC grew its position in Cabaletta Bio by 65.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $60,000 after acquiring an additional 1,042 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Cabaletta Bio in the fourth quarter worth $113,000. SG Americas Securities LLC purchased a new position in Cabaletta Bio in the fourth quarter worth $221,000. Finally, Birchview Capital LP purchased a new position in Cabaletta Bio in the fourth quarter worth $227,000.

Cabaletta Bio Trading Up 0.5 %

Cabaletta Bio stock opened at $7.26 on Thursday. The firm has a 50-day moving average of $11.29 and a 200-day moving average of $17.47. The firm has a market cap of $350.51 million, a P/E ratio of -4.25 and a beta of 2.47. Cabaletta Bio, Inc. has a 1-year low of $6.90 and a 1-year high of $26.35.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cabaletta Bio in a research report on Friday, June 14th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price target on shares of Cabaletta Bio in a research note on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price target on shares of Cabaletta Bio in a research note on Friday, June 21st. Citigroup boosted their price target on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cabaletta Bio presently has a consensus rating of “Buy” and an average target price of $34.44.

About Cabaletta Bio

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.