Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 55.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,512,053 shares of the company’s stock after selling 3,120,628 shares during the quarter. Jennison Associates LLC owned about 0.05% of Cabaletta Bio worth $5,702,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cabaletta Bio during the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio in the 3rd quarter worth approximately $33,000. Avanza Fonder AB acquired a new position in Cabaletta Bio during the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. boosted its position in Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after purchasing an additional 3,724 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Cabaletta Bio in the third quarter valued at $67,000.

Analysts Set New Price Targets

CABA has been the subject of several research reports. UBS Group assumed coverage on Cabaletta Bio in a research note on Thursday, October 10th. They set a “buy” rating and a $10.00 price target for the company. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. Finally, Evercore ISI downgraded Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.71.

Cabaletta Bio Stock Performance

CABA stock opened at $2.44 on Thursday. The company has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $3.94. The stock has a market capitalization of $119.27 million, a P/E ratio of -1.13 and a beta of 2.47. Cabaletta Bio, Inc. has a one year low of $1.76 and a one year high of $26.35.

Cabaletta Bio Company 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.