Jennison Associates LLC Raises Stock Holdings in Cabaletta Bio, Inc. (NASDAQ:CABA)

Jennison Associates LLC raised its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,632,681 shares of the company’s stock after buying an additional 86,214 shares during the period. Jennison Associates LLC owned about 11.53% of Cabaletta Bio worth $26,586,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CABA. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after purchasing an additional 3,724 shares during the period. GSA Capital Partners LLP bought a new position in Cabaletta Bio during the 3rd quarter valued at approximately $127,000. SG Americas Securities LLC purchased a new stake in Cabaletta Bio in the 3rd quarter worth approximately $166,000. Bayesian Capital Management LP bought a new stake in shares of Cabaletta Bio in the 1st quarter worth approximately $191,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $305,000.

Cabaletta Bio Price Performance

CABA stock opened at $1.87 on Friday. The business has a 50 day moving average of $4.03 and a 200 day moving average of $6.58. The firm has a market cap of $91.40 million, a PE ratio of -0.87 and a beta of 2.42. Cabaletta Bio, Inc. has a twelve month low of $1.76 and a twelve month high of $26.35.

Analyst Ratings Changes

CABA has been the topic of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Friday, November 15th. UBS Group initiated coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target on the stock. Evercore ISI lowered their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Wells Fargo & Company reduced their target price on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $27.30.

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.