HealthInvest Partners AB Makes New $477,000 Investment in Cabaletta Bio, Inc. (NASDAQ:CABA)

HealthInvest Partners AB purchased a new position in Cabaletta Bio, Inc. (NASDAQ:CABA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,000 shares of the company’s stock, valued at approximately $477,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Macroview Investment Management LLC bought a new position in shares of Cabaletta Bio in the fourth quarter valued at approximately $26,000. Ameritas Investment Partners Inc. bought a new position in shares of Cabaletta Bio in the second quarter valued at approximately $27,000. Comerica Bank bought a new position in shares of Cabaletta Bio in the third quarter valued at approximately $31,000. UBS Group AG bought a new position in shares of Cabaletta Bio in the third quarter valued at approximately $33,000. Finally, Barclays PLC lifted its holdings in shares of Cabaletta Bio by 239.6% in the fourth quarter. Barclays PLC now owns 4,146 shares of the company’s stock valued at $38,000 after purchasing an additional 2,925 shares in the last quarter.

Wall Street Analyst Weigh In

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

Insider Transactions at Cabaletta Bio

In other news, insider Gwendolyn Binder sold 11,000 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $19.59, for a total value of $215,490.00. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $391,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock traded up $0.11 during trading hours on Tuesday, reaching $16.29. The company had a trading volume of 649,758 shares, compared to its average volume of 934,241. Cabaletta Bio, Inc. has a one year low of $7.69 and a one year high of $26.35. The business has a fifty day simple moving average of $20.37 and a 200 day simple moving average of $18.99. The firm has a market cap of $785.86 million, a PE ratio of -9.87 and a beta of 2.42.

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