Walleye Capital LLC Acquires 212,025 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Walleye Capital LLC boosted its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 111.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 401,982 shares of the company's stock after purchasing an additional 212,025 shares during the period. Walleye Capital LLC owned about 0.82% of Cabaletta Bio worth $1,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company's stock worth $44,000 after acquiring an additional 3,724 shares during the last quarter. Intech Investment Management LLC purchased a new position in Cabaletta Bio in the third quarter valued at about $67,000. GSA Capital Partners LLP purchased a new stake in shares of Cabaletta Bio during the 3rd quarter worth about $127,000. SG Americas Securities LLC bought a new position in Cabaletta Bio during the third quarter valued at approximately $166,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Cabaletta Bio during the first quarter worth $305,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CABA. TD Cowen raised Cabaletta Bio to a "strong-buy" rating in a research note on Friday, November 29th. HC Wainwright restated a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday, November 15th. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a "buy" rating and a $10.00 target price on the stock. Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. Finally, Wells Fargo & Company lowered their price target on Cabaletta Bio from $20.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, November 15th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $26.25.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA traded down $0.21 during trading on Thursday, hitting $3.30. 3,180,351 shares of the stock were exchanged, compared to its average volume of 1,400,351. The company has a market capitalization of $161.30 million, a price-to-earnings ratio of -1.50 and a beta of 2.37. Cabaletta Bio, Inc. has a 1-year low of $1.76 and a 1-year high of $26.35. The company's fifty day simple moving average is $3.86 and its 200-day simple moving average is $6.05.

Cabaletta Bio 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.