Cabaletta Bio, Inc. $CABA Shares Sold by Cormorant Asset Management LP

Cormorant Asset Management LP trimmed its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,400,000 shares of the company’s stock after selling 600,000 shares during the period. Cabaletta Bio makes up about 0.4% of Cormorant Asset Management LP’s holdings, making the stock its 27th biggest holding. Cormorant Asset Management LP owned 4.57% of Cabaletta Bio worth $9,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after buying an additional 9,365 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth $38,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth $43,000. Finally, Almitas Capital LLC increased its holdings in shares of Cabaletta Bio by 5.4% during the 3rd quarter. Almitas Capital LLC now owns 387,491 shares of the company’s stock worth $907,000 after buying an additional 20,000 shares during the last quarter.

Cabaletta Bio Trading Up 1.4%

Shares of NASDAQ CABA opened at $2.84 on Thursday. Cabaletta Bio, Inc. has a 12-month low of $1.26 and a 12-month high of $4.23. The company has a market cap of $463.06 million, a P/E ratio of -1.45 and a beta of 3.21. The stock has a fifty day moving average price of $3.36 and a 200 day moving average price of $2.91.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. On average, sell-side analysts forecast that Cabaletta Bio, Inc. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CABA. Wells Fargo & Company upped their price objective on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Guggenheim increased their price target on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Cabaletta Bio in a report on Monday, May 4th. Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cabaletta Bio currently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Cabaletta Bio 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.