Jennison Associates LLC Buys 204,261 Shares of Cabaletta Bio, Inc. (NASDAQ:CABA)

Jennison Associates LLC lifted its stake in Cabaletta Bio, Inc. (NASDAQ:CABA) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,626,628 shares of the company’s stock after acquiring an additional 204,261 shares during the period. Jennison Associates LLC owned 3.80% of Cabaletta Bio worth $36,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CABA. Macroview Investment Management LLC bought a new position in Cabaletta Bio in the fourth quarter worth about $26,000. Allspring Global Investments Holdings LLC purchased a new stake in Cabaletta Bio during the third quarter valued at approximately $63,000. Amalgamated Bank boosted its stake in Cabaletta Bio by 24.7% in the third quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock valued at $71,000 after acquiring an additional 922 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Cabaletta Bio in the fourth quarter worth $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cabaletta Bio during the third quarter worth $115,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CABA. Jefferies Financial Group initiated coverage on Cabaletta Bio in a research note on Monday, February 5th. They set a “buy” rating and a $36.00 target price on the stock. 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. Citigroup increased their price objective on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Wells Fargo & Company lifted their target price on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, HC Wainwright upped their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Buy” and an average price target of $34.33.

Cabaletta Bio Price Performance

CABA opened at $12.96 on Thursday. Cabaletta Bio, Inc. has a 12-month low of $7.69 and a 12-month high of $26.35. The firm has a 50 day moving average of $18.96 and a two-hundred day moving average of $18.92.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). As a group, sell-side analysts predict that Cabaletta Bio, Inc. will post -1.82 earnings per share for the current 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.