Quest Partners LLC Sells 23,624 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Quest Partners LLC cut its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 76.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,252 shares of the company’s stock after selling 23,624 shares during the quarter. Quest Partners LLC’s holdings in Cabaletta Bio were worth $54,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Cabaletta Bio by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after purchasing an additional 84,633 shares during the period. Perceptive Advisors LLC lifted its stake in shares of Cabaletta Bio by 76.9% in the 4th quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after acquiring an additional 870,567 shares during the last quarter. Jennison Associates LLC boosted its holdings in Cabaletta Bio by 110.4% during the 1st quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after acquiring an additional 1,796,356 shares during the period. Vanguard Group Inc. grew its position in Cabaletta Bio by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after acquiring an additional 144,291 shares during the last quarter. Finally, Blackstone Inc. purchased a new position in Cabaletta Bio in the 4th quarter worth approximately $7,888,000.

Analyst Ratings Changes

CABA has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a research note on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, June 21st. Wells Fargo & Company decreased their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Evercore ISI lowered their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cabaletta Bio currently has a consensus rating of “Buy” and a consensus price target of $30.11.

Cabaletta Bio Price Performance

CABA stock opened at $4.48 on Thursday. Cabaletta Bio, Inc. has a 1 year low of $3.47 and a 1 year high of $26.35. The firm has a 50-day moving average of $5.76 and a 200 day moving average of $10.66. The company has a market cap of $216.28 million, a P/E ratio of -2.62 and a beta of 2.40.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). On average, equities research analysts expect that Cabaletta Bio, Inc. will post -2.21 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.