Point72 Asset Management L.P. Makes New $3.15 Million Investment in Cabaletta Bio, Inc. (NASDAQ:CABA)

Point72 Asset Management L.P. bought a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 667,275 shares of the company's stock, valued at approximately $3,150,000. Point72 Asset Management L.P. owned approximately 1.37% of Cabaletta Bio as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Walleye Capital LLC raised its position in shares of Cabaletta Bio by 111.6% during the third 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. E Fund Management Co. Ltd. raised its holdings in Cabaletta Bio by 1,610.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company's stock worth $2,142,000 after buying an additional 269,675 shares during the period. Victory Capital Management Inc. lifted its stake in Cabaletta Bio by 70.7% during the second quarter. Victory Capital Management Inc. now owns 634,217 shares of the company's stock valued at $4,744,000 after buying an additional 262,594 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Cabaletta Bio in the 2nd quarter worth approximately $2,243,000. Finally, Squarepoint Ops LLC grew its position in Cabaletta Bio by 643.3% during the 2nd quarter. Squarepoint Ops LLC now owns 315,379 shares of the company's stock worth $2,359,000 after purchasing an additional 272,948 shares in the last quarter.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock traded down $0.16 during midday trading on Tuesday, reaching $2.95. 2,388,587 shares of the company's stock traded hands, compared to its average volume of 1,413,472. Cabaletta Bio, Inc. has a 52 week low of $1.76 and a 52 week high of $26.35. The company's 50 day simple moving average is $3.79 and its 200 day simple moving average is $5.82. The company has a market cap of $144.19 million, a price-to-earnings ratio of -1.34 and a beta of 2.37.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Evercore ISI decreased their target price on Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, August 12th. Wells Fargo & Company decreased their price objective on Cabaletta Bio from $20.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, November 15th. UBS Group initiated coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They issued a "buy" rating and a $10.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Friday, November 15th. Finally, William Blair reiterated an "outperform" rating on shares of Cabaletta Bio in a research note on Monday, November 18th. Nine equities 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 MarketBeat, Cabaletta Bio presently has an average rating of "Buy" and an average price target of $26.25.

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.