Federated Hermes Inc. Has $262,000 Holdings in Cabaletta Bio, Inc. $CABA

Federated Hermes Inc. cut its holdings in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 67.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,028 shares of the company’s stock after selling 232,512 shares during the period. Federated Hermes Inc. owned about 0.12% of Cabaletta Bio worth $262,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CABA. CRA Financial Services LLC boosted its stake in Cabaletta Bio by 36.4% in the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after purchasing an additional 4,000 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Cabaletta Bio by 695.6% in the second quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after buying an additional 44,621 shares in the last quarter. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Cabaletta Bio by 250.5% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after buying an additional 6,916,237 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Cabaletta Bio by 142.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock worth $13,421,000 after buying an additional 5,195,285 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Cabaletta Bio by 470.7% during the 2nd quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock worth $290,000 after acquiring an additional 157,497 shares during the last quarter.

Insider Buying and Selling

In other news, Director Mark Simon acquired 11,061 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average price of $2.28 per share, with a total value of $25,219.08. Following the purchase, the director directly owned 147,205 shares of the company’s stock, valued at $335,627.40. The trade was a 8.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven Nichtberger purchased 45,000 shares of Cabaletta Bio stock in a transaction dated Wednesday, January 21st. The shares were purchased at an average cost of $2.24 per share, for a total transaction of $100,800.00. Following the completion of the transaction, the chief executive officer owned 1,031,483 shares of the company’s stock, valued at approximately $2,310,521.92. This represents a 4.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 127,668 shares of company stock valued at $286,211 over the last 90 days. 11.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CABA shares. Cantor Fitzgerald boosted their target price on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cabaletta Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Cabaletta Bio Price Performance

CABA opened at $2.51 on Monday. The firm has a 50 day simple moving average of $2.39 and a 200 day simple moving average of $2.21. Cabaletta Bio, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $3.67. The company has a market cap of $241.63 million, a price-to-earnings ratio of -0.99 and a beta of 3.27.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. As a group, analysts expect that Cabaletta Bio, Inc. will post -2.34 EPS for the current year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.