683 Capital Management LLC Makes New Investment in Cabaletta Bio, Inc. $CABA

683 Capital Management LLC purchased a new position in Cabaletta Bio, Inc. (NASDAQ:CABA) during the 4th quarter, HoldingsChannel reports. The firm purchased 388,562 shares of the company’s stock, valued at approximately $851,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CABA. SG Americas Securities LLC increased its stake in Cabaletta Bio by 44.0% in the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Cabaletta Bio in the 4th quarter worth about $34,000. ANTIPODES PARTNERS Ltd purchased a new position in Cabaletta Bio in the 4th quarter worth about $38,000. Clear Harbor Asset Management LLC purchased a new position in Cabaletta Bio in the 4th quarter worth about $43,000. Finally, Almitas Capital LLC increased its stake in Cabaletta Bio by 5.4% in the 3rd quarter. Almitas Capital LLC now owns 387,491 shares of the company’s stock worth $907,000 after purchasing an additional 20,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CABA shares. Morgan Stanley dropped their price target on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Wells Fargo & Company lifted their price target on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a research note on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $2.84 on Thursday. The stock has a market cap of $463.06 million, a price-to-earnings ratio of -1.45 and a beta of 3.21. The business has a 50 day simple moving average of $3.36 and a 200 day simple moving average of $2.91. Cabaletta Bio, Inc. has a 52 week low of $1.26 and a 52 week high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. On average, analysts predict that Cabaletta Bio, Inc. will post -1.38 EPS for the current year.

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.