Deerfield Management Company L.P. Series C Reduces Stock Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Deerfield Management Company L.P. Series C lowered its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 63.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 464,252 shares of the company's stock after selling 794,398 shares during the quarter. Deerfield Management Company L.P. Series C owned 0.96% of Cabaletta Bio worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc bought a new position in shares of Cabaletta Bio in the 4th quarter valued at about $2,125,000. Rafferty Asset Management LLC lifted its stake in shares of Cabaletta Bio by 77.1% in the 4th quarter. Rafferty Asset Management LLC now owns 209,263 shares of the company's stock valued at $4,750,000 after purchasing an additional 91,113 shares during the last quarter. Blackstone Inc. purchased a new position in shares of Cabaletta Bio in the 4th quarter worth approximately $7,888,000. Birchview Capital LP bought a new position in shares of Cabaletta Bio during the 4th quarter valued at approximately $227,000. Finally, Perceptive Advisors LLC raised its holdings in Cabaletta Bio by 76.9% during the 4th quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company's stock valued at $45,469,000 after buying an additional 870,567 shares during the period.

Cabaletta Bio Stock Performance

NASDAQ CABA traded up $0.04 on Thursday, reaching $3.99. 904,610 shares of the stock traded hands, compared to its average volume of 1,120,468. Cabaletta Bio, Inc. has a 12 month low of $3.47 and a 12 month high of $26.35. The company has a fifty day moving average price of $5.41 and a 200-day moving average price of $10.04. The company has a market cap of $194.91 million, a price-to-earnings ratio of -2.31 and a beta of 2.40.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). As a group, research analysts anticipate that Cabaletta Bio, Inc. will post -2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

CABA has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. HC Wainwright reissued a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Evercore ISI decreased their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, August 12th. Stifel Nicolaus reaffirmed a "buy" rating and set a $32.00 target price on shares of Cabaletta Bio in a research note on Monday, June 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $50.00 price target on shares of Cabaletta Bio in a research note on Friday, June 21st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cabaletta Bio currently has an average rating of "Buy" and an average target price of $30.11.

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.