The Manufacturers Life Insurance Company Makes New $566,000 Investment in Cabaletta Bio, Inc. $CABA

The Manufacturers Life Insurance Company purchased a new position in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) during the second quarter, Holdings Channel.com reports. The fund purchased 182,055 shares of the company’s stock, valued at approximately $566,000.

Several other hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC raised its position in shares of Cabaletta Bio by 22.4% in the 1st quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock valued at $48,000 after purchasing an additional 3,300 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Cabaletta Bio during the 1st quarter valued at approximately $32,000. SummitTX Capital L.P. purchased a new position in shares of Cabaletta Bio in the first quarter worth $34,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Cabaletta Bio in the fourth quarter worth $38,000. Finally, Callan Family Office LLC acquired a new stake in shares of Cabaletta Bio during the second quarter worth $54,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.33.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock opened at $3.47 on Monday. The firm has a market capitalization of $588.30 million, a price-to-earnings ratio of -2.21 and a beta of 3.27. Cabaletta Bio, Inc. has a fifty-two week low of $1.56 and a fifty-two week high of $4.23. The stock has a 50 day moving average of $2.95 and a 200 day moving average of $3.12.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. Analysts forecast that Cabaletta Bio, Inc. will post -1.34 EPS for the current year.

Cabaletta Bio 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.