Millennium Management LLC Grows Stock Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

Millennium Management LLC grew its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA) by 24.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 698,317 shares of the company’s stock after purchasing an additional 138,950 shares during the period. Millennium Management LLC owned about 1.45% of Cabaletta Bio worth $5,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC increased its stake 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 valued at $58,396,000 after buying an additional 1,796,356 shares during the period. Vanguard Group Inc. increased its stake in shares of Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after buying an additional 144,291 shares during the period. Perceptive Advisors LLC increased its stake 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 valued at $45,469,000 after buying an additional 870,567 shares during the period. Sofinnova Investments Inc. increased its stake 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 valued at $9,129,000 after buying an additional 790,654 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Cabaletta Bio by 70.7% during the second quarter. Victory Capital Management Inc. now owns 634,217 shares of the company’s stock valued at $4,744,000 after buying an additional 262,594 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CABA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a research report on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, September 17th. UBS Group began coverage on Cabaletta Bio in a research report on Thursday. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $28.10.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $4.21 on Friday. Cabaletta Bio, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $26.35. The firm has a market capitalization of $205.66 million, a price-to-earnings ratio of -2.22 and a beta of 2.39. The stock’s 50-day simple moving average is $4.75 and its 200-day simple moving average is $8.90.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, equities analysts forecast that Cabaletta Bio, Inc. will post -2.28 earnings per share 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.