State Street Corp Sells 1,109,678 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

State Street Corp trimmed its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 55.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 896,123 shares of the company’s stock after selling 1,109,678 shares during the quarter. State Street Corp owned 1.83% of Cabaletta Bio worth $4,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in shares of Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after acquiring an additional 4,191 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio during the 3rd quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $33,000. Finally, TD Asset Management Inc raised its holdings in shares of Cabaletta Bio by 5.5% in the 2nd quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock worth $1,003,000 after purchasing an additional 7,000 shares during the period.

Cabaletta Bio Trading Down 8.0 %

Shares of CABA opened at $2.29 on Monday. The stock has a 50-day moving average price of $3.28 and a 200-day moving average price of $5.02. The company has a market cap of $111.93 million, a PE ratio of -1.07 and a beta of 2.37. Cabaletta Bio, Inc. has a 12-month low of $1.76 and a 12-month high of $26.35.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Friday, November 15th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. UBS Group began coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They set a “buy” rating and a $10.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $24.38.

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.