Deerfield Management Company L.P. Series C Reduces Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Deerfield Management Company L.P. Series C decreased its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 63.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 464,252 shares of the company’s stock after selling 794,398 shares during the period. Deerfield Management Company L.P. Series C owned approximately 0.96% of Cabaletta Bio worth $3,473,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of 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 purchasing an additional 1,796,356 shares during the period. Perceptive Advisors LLC lifted its holdings in shares of Cabaletta Bio by 76.9% during the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock worth $45,469,000 after purchasing an additional 870,567 shares during the period. Sofinnova Investments Inc. lifted its holdings in shares of Cabaletta Bio by 184.0% during the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 790,654 shares during the period. Blackstone Inc. acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth about $7,888,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Cabaletta Bio during the second quarter worth about $2,243,000.

Analyst Upgrades and Downgrades

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

Cabaletta Bio Price Performance

CABA stock opened at $3.95 on Thursday. The firm has a market capitalization of $192.96 million, a P/E ratio of -2.31 and a beta of 2.40. The business’s 50-day moving average is $5.41 and its two-hundred day moving average is $10.04. Cabaletta Bio, Inc. has a 1 year low of $3.47 and a 1 year high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). On average, analysts expect that Cabaletta Bio, Inc. will post -2.21 EPS for the current year.

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.