Zurcher Kantonalbank Zurich Cantonalbank Lowers Stake in Cabaletta Bio, Inc. (NASDAQ:CABA)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Cabaletta Bio, Inc. (NASDAQ:CABA) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,739 shares of the company’s stock after selling 2,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cabaletta Bio were worth $108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Cabaletta Bio during the third quarter worth approximately $63,000. Amalgamated Bank raised its position in Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock valued at $71,000 after purchasing an additional 922 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Cabaletta Bio in the 4th quarter worth $113,000. SG Americas Securities LLC bought a new position in shares of Cabaletta Bio during the 4th quarter worth $221,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cabaletta Bio by 29.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,798 shares of the company’s stock worth $256,000 after buying an additional 3,798 shares in the last quarter.

Cabaletta Bio Price Performance

Shares of NASDAQ:CABA opened at $12.22 on Friday. The business’s 50-day moving average is $16.75 and its 200 day moving average is $18.71. Cabaletta Bio, Inc. has a 1 year low of $9.02 and a 1 year high of $26.35. The firm has a market capitalization of $572.02 million, a P/E ratio of -7.41 and a beta of 2.52.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). On average, analysts expect that Cabaletta Bio, Inc. will post -1.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CABA. Citigroup upped their price objective on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. HC Wainwright lifted their price objective on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company upped their target price on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Jefferies Financial Group started coverage on Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, April 5th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $34.33.

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.