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

Jennison Associates LLC grew its position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,632,681 shares of the company’s stock after buying an additional 86,214 shares during the quarter. Jennison Associates LLC owned 0.12% of Cabaletta Bio worth $26,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CABA. Vanguard Group Inc. raised its position in Cabaletta Bio by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after buying an additional 144,291 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cabaletta Bio by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after acquiring an additional 84,633 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $191,000. California State Teachers Retirement System lifted its position in Cabaletta Bio by 6.0% during the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after purchasing an additional 1,711 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Cabaletta Bio during the first quarter valued at approximately $305,000.

Cabaletta Bio Price Performance

Shares of CABA stock opened at $1.87 on Friday. Cabaletta Bio, Inc. has a one year low of $1.76 and a one year high of $26.35. The company’s fifty day moving average price is $4.03 and its 200-day moving average price is $6.58. The company has a market capitalization of $91.40 million, a price-to-earnings ratio of -0.87 and a beta of 2.42.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. UBS Group initiated coverage on Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. Evercore ISI cut their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, November 15th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cabaletta Bio presently has an average rating of “Buy” and a consensus target price of $27.30.

About Cabaletta Bio

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.