Mirae Asset Global Investments Co. Ltd. Buys 6,891 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 41.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,689 shares of the company’s stock after acquiring an additional 6,891 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Cabaletta Bio worth $538,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CABA. Bank of New York Mellon Corp increased its stake in Cabaletta Bio by 16.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 145,467 shares of the company’s stock valued at $2,214,000 after purchasing an additional 20,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Cabaletta Bio in the third quarter worth $115,000. Allspring Global Investments Holdings LLC purchased a new position in Cabaletta Bio during the third quarter valued at $63,000. Jennison Associates LLC lifted its position in Cabaletta Bio by 20.5% during the third quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock valued at $21,648,000 after buying an additional 241,803 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Cabaletta Bio by 11.7% during the third quarter. Victory Capital Management Inc. now owns 66,650 shares of the company’s stock valued at $1,014,000 after buying an additional 6,980 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, April 5th. HC Wainwright boosted their price target on Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Jefferies Financial Group assumed coverage on Cabaletta Bio in a research note on Monday, February 5th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Citigroup upped their price target on Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $34.33.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $12.18 on Friday. Cabaletta Bio, Inc. has a 1 year low of $7.77 and a 1 year high of $26.35. The firm has a market cap of $587.59 million, a price-to-earnings ratio of -7.38 and a beta of 2.41. The stock’s 50-day simple moving average is $18.72 and its 200-day simple moving average is $18.87.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). As a group, research analysts predict that Cabaletta Bio, Inc. will post -1.82 EPS for the current year.

About Cabaletta Bio

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.