Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 63.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,119,394 shares of the company’s stock after acquiring an additional 1,596,512 shares during the quarter. Fred Alger Management LLC owned about 8.43% of Cabaletta Bio worth $19,444,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Cabaletta Bio by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock worth $519,000 after buying an additional 1,711 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after acquiring an additional 3,724 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Cabaletta Bio by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after purchasing an additional 4,191 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in Cabaletta Bio by 7.7% during the second quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after purchasing an additional 5,000 shares during the period. Finally, TD Asset Management Inc lifted its position in Cabaletta Bio by 5.5% during the second quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after purchasing an additional 7,000 shares during the period.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $3.82 on Friday. Cabaletta Bio, Inc. has a 12 month low of $1.76 and a 12 month high of $26.35. The stock has a market capitalization of $186.72 million, a PE ratio of -1.78 and a beta of 2.42. The business has a 50 day simple moving average of $3.88 and a 200-day simple moving average of $6.27.

Analysts Set New Price Targets

A number of research firms have weighed in on CABA. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a report on Friday, November 15th. Wells Fargo & Company decreased their price target on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, November 15th. UBS Group began coverage on Cabaletta Bio in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.25.

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.