The Manufacturers Life Insurance Company Takes $566,000 Position in Cabaletta Bio, Inc. $CABA

The Manufacturers Life Insurance Company acquired a new position in Cabaletta Bio, Inc. (NASDAQ:CABA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 182,055 shares of the company’s stock, valued at approximately $566,000. The Manufacturers Life Insurance Company owned approximately 0.11% of Cabaletta Bio as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in Cabaletta Bio by 22.4% during the 1st quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock valued at $48,000 after purchasing an additional 3,300 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Cabaletta Bio during the first quarter valued at $32,000. SummitTX Capital L.P. purchased a new position in shares of Cabaletta Bio during the first quarter valued at $34,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Cabaletta Bio during the fourth quarter valued at $38,000. Finally, Callan Family Office LLC bought a new stake in shares of Cabaletta Bio in the second quarter valued at about $54,000.

Cabaletta Bio Price Performance

Shares of CABA stock opened at $3.47 on Monday. The stock’s 50-day moving average is $2.95 and its 200 day moving average is $3.12. Cabaletta Bio, Inc. has a 1-year low of $1.56 and a 1-year high of $4.23. The company has a market cap of $588.30 million, a P/E ratio of -2.21 and a beta of 3.27.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. On average, analysts anticipate that Cabaletta Bio, Inc. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CABA. Wells Fargo & Company lowered their price objective 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. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.33.

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.