Cabaletta Bio, Inc. (NASDAQ:CABA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,739 shares of the company’s stock after selling 2,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cabaletta Bio were worth $108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Cabaletta Bio during the third quarter valued at approximately $63,000. Amalgamated Bank raised its holdings in Cabaletta Bio by 24.7% in the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock valued at $71,000 after acquiring an additional 922 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $113,000. SG Americas Securities LLC acquired a new position in Cabaletta Bio in the fourth quarter valued at $221,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Cabaletta Bio by 29.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,798 shares of the company’s stock worth $256,000 after buying an additional 3,798 shares during the last quarter.

Wall Street Analysts Forecast Growth

CABA has been the topic of several recent analyst reports. Citigroup increased their price objective 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. HC Wainwright upped their price objective on Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company lifted their target price on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research note on Friday, April 5th. Finally, Jefferies Financial Group started coverage on Cabaletta Bio in a report on Monday, February 5th. They set a “buy” rating and a $36.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $34.33.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $12.22 on Friday. Cabaletta Bio, Inc. has a one year low of $9.02 and a one year high of $26.35. The stock’s 50 day moving average price is $16.75 and its 200 day moving average price is $18.71. The firm has a market capitalization of $572.02 million, a PE ratio of -7.41 and a beta of 2.52.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). On average, analysts forecast that Cabaletta Bio, Inc. will post -1.82 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.