Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in Cabaletta Bio, Inc. (NASDAQ:CABA) by 55.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,512,053 shares of the company’s stock after selling 3,120,628 shares during the period. Jennison Associates LLC owned 5.14% of Cabaletta Bio worth $5,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CABA. Walleye Capital LLC grew its position in shares of Cabaletta Bio by 111.6% in the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock valued at $1,897,000 after buying an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cabaletta Bio during the third quarter worth about $3,150,000. Geode Capital Management LLC grew its holdings in shares of Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares during the last quarter. Barclays PLC increased its position in shares of Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings 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 last quarter.

Analyst Upgrades and Downgrades

CABA has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, January 17th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. Wells Fargo & Company lowered shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. Finally, Evercore ISI downgraded shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cabaletta Bio presently has an average rating of “Buy” and an average price target of $22.71.

Cabaletta Bio Stock Up 5.2 %

Shares of Cabaletta Bio stock opened at $2.44 on Thursday. The firm has a market cap of $119.27 million, a price-to-earnings ratio of -1.13 and a beta of 2.47. Cabaletta Bio, Inc. has a 52-week low of $1.76 and a 52-week high of $26.35. The company’s 50-day simple moving average is $2.63 and its 200-day simple moving average is $3.94.

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.