Perceptive Advisors LLC Cuts Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

Perceptive Advisors LLC trimmed its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 65.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 585,045 shares of the company’s stock after selling 1,131,615 shares during the quarter. Perceptive Advisors LLC owned 1.21% of Cabaletta Bio worth $4,376,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. E Fund Management Co. Ltd. increased its holdings in Cabaletta Bio by 1,610.1% during the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock worth $2,142,000 after buying an additional 269,675 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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. Jennison Associates LLC lifted its stake in Cabaletta Bio by 110.4% in the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after purchasing an additional 1,796,356 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after purchasing an additional 144,291 shares during the period. Finally, Blackstone Inc. purchased a new stake in Cabaletta Bio in the fourth quarter worth $7,888,000.

Cabaletta Bio Trading Up 6.8 %

CABA stock opened at $4.26 on Monday. Cabaletta Bio, Inc. has a 1-year low of $3.47 and a 1-year high of $26.35. The stock has a market cap of $205.66 million, a price-to-earnings ratio of -2.49 and a beta of 2.40. The company’s 50 day moving average is $5.29 and its 200 day moving average is $9.73.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, sell-side analysts forecast that Cabaletta Bio, Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Cabaletta Bio Company 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.