E Fund Management Co. Ltd. Takes Position in Cabaletta Bio, Inc. (NASDAQ:CABA)

E Fund Management Co. Ltd. purchased a new stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,239 shares of the company’s stock, valued at approximately $255,000.

Several other large investors have also recently added to or reduced their stakes in CABA. Redmile Group LLC increased its stake in Cabaletta Bio by 29.5% in the 3rd quarter. Redmile Group LLC now owns 1,774,252 shares of the company’s stock valued at $27,004,000 after buying an additional 403,953 shares during the period. Victory Capital Management Inc. grew its position in Cabaletta Bio by 506.0% in the fourth quarter. Victory Capital Management Inc. now owns 403,927 shares of the company’s stock worth $9,169,000 after acquiring an additional 337,277 shares in the last quarter. Vanguard Group Inc. grew its position in Cabaletta Bio by 14.3% in the third quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock worth $29,955,000 after acquiring an additional 246,596 shares in the last quarter. Wellington Management Group LLP bought a new stake in Cabaletta Bio in the third quarter worth approximately $3,753,000. Finally, Jennison Associates LLC grew its position in 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 in the last quarter.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright boosted their target price on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company upped their price objective 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 began coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price target on shares of Cabaletta Bio in a report on Friday, April 5th. Finally, Citigroup increased their price target on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cabaletta Bio has an average rating of “Buy” and a consensus price target of $34.33.

Cabaletta Bio Trading Up 1.2 %

Shares of Cabaletta Bio stock traded up $0.14 during mid-day trading on Thursday, reaching $12.22. 775,271 shares of the stock were exchanged, compared to its average volume of 1,063,489. The company has a market cap of $572.02 million, a price-to-earnings ratio of -7.41 and a beta of 2.52. The firm has a 50-day simple moving average of $16.75 and a 200 day simple moving average of $18.71. Cabaletta Bio, Inc. has a fifty-two week low of $9.02 and a fifty-two week high of $26.35.

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