Dimensional Fund Advisors LP Trims Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

Dimensional Fund Advisors LP cut its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,516 shares of the company’s stock after selling 7,859 shares during the period. Dimensional Fund Advisors LP’s holdings in Cabaletta Bio were worth $131,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. 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. TD Asset Management Inc boosted its position in shares of Cabaletta Bio by 5.5% during the second quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after purchasing an additional 7,000 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Cabaletta Bio by 35.7% during the second quarter. Rhumbline Advisers now owns 61,880 shares of the company’s stock valued at $463,000 after purchasing an additional 16,274 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Cabaletta Bio during the second quarter valued at approximately $2,243,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Cabaletta Bio by 30.2% during the second quarter. Bank of New York Mellon Corp now owns 190,217 shares of the company’s stock valued at $1,423,000 after purchasing an additional 44,156 shares in the last quarter.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $4.33 on Wednesday. The business’s 50-day simple moving average is $4.67 and its two-hundred day simple moving average is $8.61. The company has a market cap of $209.04 million, a PE ratio of -2.53 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 posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). As a group, analysts predict that Cabaletta Bio, Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group assumed coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target on the stock. Wells Fargo & Company dropped their price target 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. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Evercore ISI dropped their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a report on Friday, June 21st. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.10.

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.