T. Rowe Price Investment Management Inc. Has $9.25 Million Stock Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

T. Rowe Price Investment Management Inc. boosted its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,074,006 shares of the company's stock after purchasing an additional 400,282 shares during the quarter. T. Rowe Price Investment Management Inc. owned 8.33% of Cabaletta Bio worth $9,248,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Miller Financial Services LLC acquired a new position in shares of Cabaletta Bio during the fourth quarter valued at about $33,000. Avanza Fonder AB bought a new stake in shares of Cabaletta Bio in the 4th quarter worth approximately $40,000. Intech Investment Management LLC grew its holdings in shares of Cabaletta Bio by 42.2% during the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock worth $46,000 after purchasing an additional 5,999 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Cabaletta Bio by 67.3% during the fourth quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock valued at $92,000 after purchasing an additional 16,250 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Cabaletta Bio in the fourth quarter valued at $94,000.

Analyst Upgrades and Downgrades

CABA has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. HC Wainwright restated a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and issued a $23.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Morgan Stanley cut their target price on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Finally, UBS Group lowered their price target on Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $21.00.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $1.27 on Monday. The stock's fifty day moving average is $1.53 and its 200-day moving average is $2.50. Cabaletta Bio, Inc. has a 52 week low of $0.99 and a 52 week high of $13.50. The stock has a market capitalization of $64.44 million, a PE ratio of -0.59 and a beta of 2.44.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). As a group, analysts forecast that Cabaletta Bio, Inc. will post -2.34 earnings per share for the current fiscal year.

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.

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