Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Cabaletta Bio, Inc. (NASDAQ:CABA) by 71.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,164 shares of the company’s stock after selling 2,972 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cabaletta Bio were worth $26,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CABA. Vanguard Group Inc. increased its holdings in shares of Cabaletta Bio by 14.3% during the third quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock valued at $29,955,000 after purchasing an additional 246,596 shares during the period. Swiss National Bank acquired a new position in Cabaletta Bio during the 3rd quarter valued at about $930,000. Citigroup Inc. raised its position in shares of Cabaletta Bio by 552.4% during the 3rd quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after buying an additional 42,078 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Cabaletta Bio during the 3rd quarter worth about $3,753,000. Finally, Jennison Associates LLC lifted its stake in shares of Cabaletta Bio by 20.5% in the 3rd quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock worth $21,648,000 after acquiring an additional 241,803 shares during the period.

Analyst Ratings Changes

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

Cabaletta Bio Price Performance

Shares of CABA opened at $10.65 on Wednesday. Cabaletta Bio, Inc. has a one year low of $9.02 and a one year high of $26.35. The company has a 50-day moving average of $18.00 and a two-hundred day moving average of $18.80. The stock has a market cap of $498.29 million, a price-to-earnings ratio of -6.45 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). Analysts anticipate that Cabaletta Bio, Inc. will post -1.82 earnings per share 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.