Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Redmile Group LLC

Redmile Group LLC lowered its stake in Cabaletta Bio, Inc. (NASDAQ:CABA) by 67.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 442,826 shares of the company’s stock after selling 931,363 shares during the quarter. Redmile Group LLC’s holdings in Cabaletta Bio were worth $7,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Cabaletta Bio by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after acquiring an additional 84,633 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Cabaletta Bio in the first quarter worth $1,403,000. EntryPoint Capital LLC purchased a new stake in shares of Cabaletta Bio during the 1st quarter worth about $147,000. Vanguard Group Inc. lifted its stake in Cabaletta Bio by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after acquiring an additional 144,291 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Cabaletta Bio by 47.3% during the 1st quarter. Blair William & Co. IL now owns 27,300 shares of the company’s stock worth $466,000 after purchasing an additional 8,762 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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 raised their target price on Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research 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 report on Monday, June 17th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.44.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA traded down $0.11 on Monday, hitting $7.08. The stock had a trading volume of 462,954 shares, compared to its average volume of 1,111,095. The company has a market capitalization of $341.80 million, a price-to-earnings ratio of -4.14 and a beta of 2.42. The firm’s 50 day moving average price is $8.90 and its 200-day moving average price is $15.06. Cabaletta Bio, Inc. has a twelve month low of $6.71 and a twelve month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last posted its 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). As a group, sell-side analysts predict that Cabaletta Bio, Inc. will post -2.07 EPS for the current year.

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.