Thrivent Financial for Lutherans Buys New Stake in Cabaletta Bio, Inc. (NASDAQ:CABA)

Thrivent Financial for Lutherans purchased a new position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 95,327 shares of the company’s stock, valued at approximately $216,000. Thrivent Financial for Lutherans owned 0.20% of Cabaletta Bio as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CABA. Intech Investment Management LLC purchased a new stake in shares of Cabaletta Bio in the third quarter worth about $67,000. Charles Schwab Investment Management Inc. lifted its holdings in Cabaletta Bio by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company’s stock valued at $594,000 after acquiring an additional 7,518 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cabaletta Bio in the 3rd quarter worth approximately $32,000. Point72 Asset Management L.P. acquired a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $3,150,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $33,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. UBS Group reduced 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. Wells Fargo & Company dropped their price objective on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th. Finally, Guggenheim reiterated a “buy” rating and set a $23.00 target price on shares of Cabaletta Bio in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.00.

Cabaletta Bio Price Performance

Shares of NASDAQ:CABA opened at $1.11 on Friday. Cabaletta Bio, Inc. has a 1 year low of $1.08 and a 1 year high of $19.04. The firm has a market capitalization of $56.32 million, a PE ratio of -0.52 and a beta of 2.44. The business’s 50 day moving average price is $1.98 and its 200-day moving average price is $2.89.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Monday, March 31st. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.65). As a group, analysts expect that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current year.

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.