Cabaletta Bio, Inc. (NASDAQ:CABA) Holdings Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 70.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 279,954 shares of the company’s stock after selling 676,735 shares during the quarter. JPMorgan Chase & Co. owned 0.57% of Cabaletta Bio worth $1,321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CABA. China Universal Asset Management Co. Ltd. increased its stake in Cabaletta Bio by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Cabaletta Bio by 8.0% in the second 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cabaletta Bio during the third quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new stake in Cabaletta Bio during the third quarter worth approximately $33,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cabaletta Bio by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company’s stock worth $594,000 after purchasing an additional 7,518 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CABA shares. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their target price for the company from $15.00 to $6.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.38.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA opened at $2.50 on Friday. The company has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $4.29. The company has a market capitalization of $122.20 million, a PE ratio of -1.16 and a beta of 2.46. Cabaletta Bio, Inc. has a 52 week low of $1.76 and a 52 week high of $26.35.

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.