Charles Schwab Investment Management Inc. Raises Stake in Cabaletta Bio, Inc. (NASDAQ:CABA)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,845 shares of the company’s stock after buying an additional 7,518 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Cabaletta Bio worth $594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AlphaCentric Advisors LLC lifted its position in Cabaletta Bio by 7.7% during the second quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after purchasing an additional 5,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Cabaletta Bio by 30.2% in the second quarter. Bank of New York Mellon Corp now owns 190,217 shares of the company’s stock worth $1,423,000 after buying an additional 44,156 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Cabaletta Bio during the second quarter worth about $2,243,000. Rhumbline Advisers raised its position in Cabaletta Bio by 35.7% during the second quarter. Rhumbline Advisers now owns 61,880 shares of the company’s stock valued at $463,000 after acquiring an additional 16,274 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Cabaletta Bio by 5.5% in the second quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after acquiring an additional 7,000 shares during the period.

Cabaletta Bio Trading Down 16.7 %

NASDAQ:CABA opened at $2.29 on Thursday. The stock has a 50 day moving average of $3.57 and a two-hundred day moving average of $5.48. Cabaletta Bio, Inc. has a 12 month low of $1.76 and a 12 month high of $26.35. The firm has a market cap of $111.93 million, a P/E ratio of -1.07 and a beta of 2.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. UBS Group began coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Friday, November 15th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Finally, William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cabaletta Bio currently has an average rating of “Buy” and an average price target of $26.25.

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.