Mirae Asset Global Investments Co. Ltd. Raises Stake in Cabaletta Bio, Inc. (NASDAQ:CABA)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 41.0% in the fourth quarter, HoldingsChannel reports. The fund owned 23,689 shares of the company’s stock after acquiring an additional 6,891 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cabaletta Bio were worth $538,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cabaletta Bio by 14.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock valued at $29,955,000 after acquiring an additional 246,596 shares during the period. Redmile Group LLC raised its holdings in Cabaletta Bio by 29.5% in the third quarter. Redmile Group LLC now owns 1,774,252 shares of the company’s stock worth $27,004,000 after buying an additional 403,953 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Cabaletta Bio by 20.5% in the third quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock worth $21,648,000 after acquiring an additional 241,803 shares during the period. Wellington Management Group LLP bought a new stake in shares of Cabaletta Bio in the third quarter worth approximately $3,753,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Cabaletta Bio by 16.1% in the third quarter. Bank of New York Mellon Corp now owns 145,467 shares of the company’s stock worth $2,214,000 after acquiring an additional 20,171 shares during the period.

Cabaletta Bio Stock Down 6.0 %

CABA stock opened at $12.18 on Friday. Cabaletta Bio, Inc. has a twelve month low of $7.77 and a twelve month high of $26.35. The stock has a market capitalization of $587.59 million, a price-to-earnings ratio of -7.38 and a beta of 2.41. The firm’s fifty day simple moving average is $18.72 and its two-hundred day simple moving average is $18.87.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). As a group, equities research analysts expect that Cabaletta Bio, Inc. will post -1.82 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on CABA shares. HC Wainwright lifted their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company boosted their target price on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a report on Friday, April 5th. Finally, Citigroup boosted their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cabaletta Bio has a consensus rating of “Buy” and an average target price of $34.33.

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.