Renaissance Technologies LLC Purchases 514,080 Shares of Cabaletta Bio, Inc. $CABA

Renaissance Technologies LLC raised its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 33.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,036,663 shares of the company’s stock after buying an additional 514,080 shares during the period. Renaissance Technologies LLC’s holdings in Cabaletta Bio were worth $5,479,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its position in shares of Cabaletta Bio by 357.1% in the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after buying an additional 48,181 shares during the last quarter. Comerica Bank raised its stake in shares of Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after acquiring an additional 39,860 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Cabaletta Bio during the first quarter valued at approximately $102,000. XTX Topco Ltd purchased a new stake in Cabaletta Bio during the second quarter valued at approximately $148,000. Finally, Marshall Wace LLP boosted its stake in Cabaletta Bio by 470.7% in the second quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock valued at $290,000 after acquiring an additional 157,497 shares in the last quarter.

Cabaletta Bio Stock Down 2.2%

CABA stock opened at $2.71 on Thursday. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $3.05. The stock has a market capitalization of $441.88 million, a PE ratio of -1.38 and a beta of 3.30. Cabaletta Bio, Inc. has a 52 week low of $1.26 and a 52 week high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. On average, equities research analysts expect that Cabaletta Bio, Inc. will post -1.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wells Fargo & Company increased their price objective on Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cabaletta Bio currently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Cabaletta Bio Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.