Redmile Group LLC Lowers Stock Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Redmile Group LLC decreased its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 67.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 442,826 shares of the company’s stock after selling 931,363 shares during the quarter. Redmile Group LLC owned about 0.95% of Cabaletta Bio worth $7,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CABA. Macroview Investment Management LLC bought a new position in shares of Cabaletta Bio in the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC boosted its position in Cabaletta Bio by 65.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $60,000 after buying an additional 1,042 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at approximately $113,000. EntryPoint Capital LLC purchased a new position in Cabaletta Bio during the 1st quarter worth $147,000. Finally, SG Americas Securities LLC purchased a new position in shares of Cabaletta Bio during the fourth quarter valued at $221,000.

Cabaletta Bio Stock Down 1.5 %

Shares of NASDAQ:CABA traded down $0.11 during trading on Monday, reaching $7.08. 462,954 shares of the company’s stock traded hands, compared to its average volume of 1,111,095. Cabaletta Bio, Inc. has a fifty-two week low of $6.71 and a fifty-two week high of $26.35. The company has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $15.06. The firm has a market cap of $341.80 million, a PE ratio of -4.14 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). On average, equities research analysts forecast that Cabaletta Bio, Inc. will post -2.07 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CABA shares. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Cabaletta Bio in a report on Friday, June 14th. Citigroup boosted their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, June 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective on shares of Cabaletta Bio in a research note on Monday, June 17th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Cabaletta Bio has a consensus rating of “Buy” and a consensus price target of $34.44.

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.