Wellington Management Group LLP Increases Stock Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

Wellington Management Group LLP lifted its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,157 shares of the company’s stock after purchasing an additional 23,106 shares during the period. Wellington Management Group LLP’s holdings in Cabaletta Bio were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Miller Financial Services LLC bought a new position in shares of Cabaletta Bio during the 4th quarter worth approximately $33,000. Avanza Fonder AB bought a new stake in Cabaletta Bio during the fourth quarter worth $40,000. Intech Investment Management LLC boosted its position in Cabaletta Bio by 42.2% in the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after purchasing an additional 5,999 shares during the last quarter. LPL Financial LLC grew its stake in Cabaletta Bio by 15.6% in the 4th quarter. LPL Financial LLC now owns 42,386 shares of the company’s stock valued at $96,000 after purchasing an additional 5,716 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Cabaletta Bio by 23.3% during the 4th quarter. SG Americas Securities LLC now owns 43,259 shares of the company’s stock valued at $98,000 after purchasing an additional 8,161 shares during the last quarter.

Wall Street Analyst Weigh In

CABA has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Guggenheim reissued a “buy” rating and issued a $23.00 target price on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Finally, Morgan Stanley dropped their price target on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st. 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $21.00.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $1.16 on Tuesday. The company has a market capitalization of $58.86 million, a PE ratio of -0.54 and a beta of 2.44. Cabaletta Bio, Inc. has a 52-week low of $0.99 and a 52-week high of $17.56. The business’s fifty day moving average is $1.78 and its 200 day moving average is $2.70.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). On average, sell-side analysts forecast that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

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.