China Universal Asset Management Co. Ltd. Raises Stock Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 65.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,395 shares of the company’s stock after buying an additional 3,724 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cabaletta Bio were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC raised its position in Cabaletta Bio by 110.4% during the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock worth $58,396,000 after acquiring an additional 1,796,356 shares during the period. Vanguard Group Inc. raised its position in shares of Cabaletta Bio by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after purchasing an additional 144,291 shares during the last quarter. Sofinnova Investments Inc. lifted its stake in Cabaletta Bio by 184.0% in the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock valued at $9,129,000 after buying an additional 790,654 shares in the last quarter. Millennium Management LLC boosted its holdings in Cabaletta Bio by 24.8% in the 2nd quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock worth $5,223,000 after buying an additional 138,950 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Cabaletta Bio by 70.7% during the 2nd quarter. Victory Capital Management Inc. now owns 634,217 shares of the company’s stock worth $4,744,000 after buying an additional 262,594 shares in the last quarter.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock opened at $3.55 on Friday. The stock has a 50 day moving average of $4.52 and a 200 day moving average of $7.64. The firm has a market capitalization of $173.41 million, a price-to-earnings ratio of -1.87 and a beta of 2.39. Cabaletta Bio, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued 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). Analysts forecast that Cabaletta Bio, Inc. will post -2.28 EPS for the current year.

Wall Street Analyst Weigh In

CABA has been the topic of a number of research analyst reports. Evercore ISI lowered their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday, September 17th. UBS Group began coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Wells Fargo & Company dropped 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 note on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cabaletta Bio presently has a consensus rating of “Buy” and a consensus target price of $28.10.

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.