State Street Corp Sells 1,109,678 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

State Street Corp decreased its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA) by 55.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 896,123 shares of the company’s stock after selling 1,109,678 shares during the period. State Street Corp’s holdings in Cabaletta Bio were worth $4,230,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio in the third quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new stake in Cabaletta Bio in the 3rd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares during the period. Intech Investment Management LLC purchased a new stake in Cabaletta Bio in the third quarter worth $67,000. Finally, GSA Capital Partners LLP purchased a new stake in Cabaletta Bio in the third quarter worth $127,000.

Cabaletta Bio Price Performance

Shares of NASDAQ:CABA opened at $2.29 on Monday. Cabaletta Bio, Inc. has a 1-year low of $1.76 and a 1-year high of $26.35. The firm’s 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $5.02. The company has a market capitalization of $111.93 million, a P/E ratio of -1.07 and a beta of 2.37.

Analyst Ratings Changes

Several analysts have commented on CABA shares. UBS Group initiated coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective for the company. Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cabaletta Bio presently has a consensus rating of “Buy” and an average target price of $24.38.

Cabaletta Bio 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.