BIT Capital GmbH Takes $431,000 Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

BIT Capital GmbH purchased a new position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 190,000 shares of the company’s stock, valued at approximately $431,000. BIT Capital GmbH owned approximately 0.39% of Cabaletta Bio as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CABA. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cabaletta Bio during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of Cabaletta Bio in the third quarter valued at approximately $33,000. Miller Financial Services LLC acquired a new position in Cabaletta Bio during the fourth quarter worth $33,000. Avanza Fonder AB purchased a new position in Cabaletta Bio in the fourth quarter worth $40,000. Finally, Intech Investment Management LLC raised its position in Cabaletta Bio by 42.2% in the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after acquiring an additional 5,999 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, February 18th. Evercore ISI downgraded shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Thursday, December 19th. Finally, TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $22.71.

Cabaletta Bio Stock Down 5.4 %

Shares of NASDAQ:CABA opened at $1.57 on Thursday. The company has a market cap of $76.74 million, a P/E ratio of -0.73 and a beta of 2.58. The business has a fifty day simple moving average of $2.15 and a 200-day simple moving average of $3.02. Cabaletta Bio, Inc. has a 52 week low of $1.45 and a 52 week high of $19.04.

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.