Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA) by 64.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,250 shares of the company’s stock after selling 35,177 shares during the quarter. Profund Advisors LLC’s holdings in Cabaletta Bio were worth $144,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its stake in shares of Cabaletta Bio by 106.9% in the second quarter. Westwood Holdings Group Inc. now owns 170,129 shares of the company’s stock worth $1,273,000 after purchasing an additional 87,901 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in Cabaletta Bio by 1,610.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after buying an additional 269,675 shares during the period. Sofinnova Investments Inc. raised its position in shares of Cabaletta Bio by 184.0% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after buying an additional 790,654 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Cabaletta Bio by 70.7% in the 2nd quarter. Victory Capital Management Inc. now owns 634,217 shares of the company’s stock worth $4,744,000 after acquiring an additional 262,594 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of Cabaletta Bio by 5.5% in the second quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after acquiring an additional 7,000 shares in the last quarter.

Cabaletta Bio Price Performance

CABA stock opened at $4.26 on Monday. The firm has a market capitalization of $205.66 million, a P/E ratio of -2.49 and a beta of 2.40. Cabaletta Bio, Inc. has a 52-week low of $3.47 and a 52-week high of $26.35. The company’s 50 day simple moving average is $5.29 and its 200-day simple moving average is $9.73.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Sell-side analysts predict that Cabaletta Bio, Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CABA has been the subject of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target on shares of Cabaletta Bio in a research note on Monday, June 17th. Evercore ISI decreased their target price on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Wells Fargo & Company reduced 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 report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a report on Friday, June 21st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.11.

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.