Charles Schwab Investment Management Inc. Sells 16,585 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Charles Schwab Investment Management Inc. lowered its position in Cabaletta Bio, Inc. (NASDAQ:CABA) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,260 shares of the company’s stock after selling 16,585 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.22% of Cabaletta Bio worth $248,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after acquiring an additional 124,071 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Cabaletta Bio during the third quarter worth about $3,150,000. Walleye Capital LLC lifted its stake in Cabaletta Bio by 111.6% during the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after purchasing an additional 212,025 shares during the period. HealthInvest Partners AB boosted its holdings in Cabaletta Bio by 46.8% during the fourth quarter. HealthInvest Partners AB now owns 247,454 shares of the company’s stock valued at $554,000 after purchasing an additional 78,932 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Cabaletta Bio by 490.2% in the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock valued at $413,000 after purchasing an additional 72,638 shares during the period.

Cabaletta Bio Trading Down 15.5 %

CABA opened at $1.17 on Wednesday. The stock has a market capitalization of $57.19 million, a P/E ratio of -0.54 and a beta of 2.58. Cabaletta Bio, Inc. has a 12 month low of $1.16 and a 12 month high of $19.04. The firm’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.93.

Wall Street Analyst Weigh In

CABA has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cabaletta Bio in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday. Morgan Stanley reduced their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, UBS Group dropped their price target on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.00.

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.