Federated Hermes Inc. Sells 232,512 Shares of Cabaletta Bio, Inc. $CABA

Federated Hermes Inc. lessened its stake in shares of Cabaletta Bio, Inc. (NASDAQ:CABA) by 67.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,028 shares of the company’s stock after selling 232,512 shares during the period. Federated Hermes Inc.’s holdings in Cabaletta Bio were worth $262,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CABA. Catalyst Funds Management Pty Ltd bought a new stake in shares of Cabaletta Bio in the 2nd quarter valued at about $32,000. CRA Financial Services LLC grew its holdings in Cabaletta Bio by 36.4% during 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 during the period. Comerica Bank increased its position in Cabaletta Bio by 2,292.1% during the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after buying an additional 39,860 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 during the period. Finally, Invesco Ltd. lifted its position in shares of Cabaletta Bio by 357.1% in the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after buying an additional 48,181 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CABA. Cantor Fitzgerald boosted their target price on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Weiss Ratings reiterated 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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Insider Activity at Cabaletta Bio

In related news, Director Shawn Tomasello purchased 22,725 shares of the stock in a transaction dated Wednesday, January 21st. The stock was bought at an average cost of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the acquisition, the director owned 22,725 shares of the company’s stock, valued at approximately $50,222.25. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven Nichtberger bought 45,000 shares of the stock in a transaction on Wednesday, January 21st. The stock was purchased at an average cost of $2.24 per share, with a total value of $100,800.00. Following the acquisition, the chief executive officer owned 1,031,483 shares in the company, 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. Over the last 90 days, insiders purchased 127,668 shares of company stock valued at $286,211. Company insiders own 11.25% of the company’s stock.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $2.51 on Monday. 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, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $3.67. The stock has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.21.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. Research analysts predict that Cabaletta Bio, Inc. will post -2.34 EPS for the current fiscal year.

About Cabaletta Bio

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.