Stonepine Capital Management LLC Takes Position in Cabaletta Bio, Inc. $CABA

Stonepine Capital Management LLC acquired a new position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 917,100 shares of the company’s stock, valued at approximately $2,852,181,000. Cabaletta Bio makes up about 1.5% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in Cabaletta Bio in the 2nd quarter valued at about $34,000. Kestra Advisory Services LLC bought a new position in Cabaletta Bio in the first quarter worth approximately $32,000. SummitTX Capital L.P. acquired a new stake in Cabaletta Bio in the first quarter valued at approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in Cabaletta Bio in the fourth quarter valued at approximately $38,000. Finally, Callan Family Office LLC acquired a new stake in Cabaletta Bio in the second quarter valued at approximately $54,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CABA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 14th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.33.

Cabaletta Bio Stock Performance

CABA stock opened at $3.38 on Friday. The business has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $3.09. The company has a market capitalization of $573.05 million, a P/E ratio of -2.15 and a beta of 3.30. Cabaletta Bio, Inc. has a 52-week low of $1.40 and a 52-week high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, sell-side analysts forecast that Cabaletta Bio, Inc. will post -1.34 earnings per share for the current fiscal year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.