BIT Capital GmbH Invests $431,000 in Cabaletta Bio, Inc. (NASDAQ:CABA)

BIT Capital GmbH bought a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 190,000 shares of the company's stock, valued at approximately $431,000. BIT Capital GmbH owned about 0.39% of Cabaletta Bio at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Cabaletta Bio during the 3rd quarter valued at about $67,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cabaletta Bio by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company's stock valued at $594,000 after purchasing an additional 7,518 shares during the last quarter. Walleye Capital LLC raised its position in shares of Cabaletta Bio by 111.6% during the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company's stock worth $1,897,000 after purchasing an additional 212,025 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Cabaletta Bio by 63.3% in the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company's stock worth $19,444,000 after purchasing an additional 1,596,512 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cabaletta Bio in the 3rd quarter worth approximately $32,000.

Cabaletta Bio Trading Down 10.6 %

CABA traded down $0.17 on Monday, reaching $1.39. The company had a trading volume of 828,846 shares, compared to its average volume of 1,183,746. Cabaletta Bio, Inc. has a one year low of $1.39 and a one year high of $19.04. The company has a market capitalization of $67.69 million, a P/E ratio of -0.64 and a beta of 2.58. The company has a fifty day moving average of $2.11 and a 200-day moving average of $2.97.

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Analysts Set New Price Targets

Several equities research analysts have weighed in on CABA shares. Wells Fargo & Company lowered Cabaletta Bio from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday, February 18th. Finally, Evercore ISI downgraded shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and cut their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cabaletta Bio currently has a consensus rating of "Buy" and a consensus price target of $22.71.

About Cabaletta Bio

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.