Heights Capital Management Inc. Sells 1,059,904 Shares of Cabaletta Bio, Inc. $CABA

Heights Capital Management Inc. reduced its position in Cabaletta Bio, Inc. (NASDAQ:CABA) by 33.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,084,202 shares of the company’s stock after selling 1,059,904 shares during the quarter. Cabaletta Bio makes up about 1.3% of Heights Capital Management Inc.’s holdings, making the stock its 14th largest position. Heights Capital Management Inc.’s holdings in Cabaletta Bio were worth $4,877,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd purchased a new position in shares of Cabaletta Bio during the 2nd quarter valued at $32,000. CRA Financial Services LLC increased its holdings in Cabaletta Bio by 36.4% in the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after acquiring an additional 4,000 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Cabaletta Bio in the 3rd quarter worth about $47,000. Comerica Bank raised its stake in Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after acquiring an additional 39,860 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Cabaletta Bio by 695.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after acquiring an additional 44,621 shares during the period.

Insider Buying and Selling

In related news, Director Shawn Tomasello bought 22,725 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was acquired at an average price of $2.21 per share, for a total transaction of $50,222.25. Following the purchase, the director directly owned 22,725 shares in the company, valued at $50,222.25. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven Nichtberger bought 45,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was bought at an average price of $2.24 per share, with a total value of $100,800.00. Following the purchase, the chief executive officer owned 1,031,483 shares in the company, valued at $2,310,521.92. This trade represents a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 127,668 shares of company stock valued at $286,211 in the last ninety days. 11.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.25.

Cabaletta Bio Price Performance

NASDAQ:CABA opened at $3.10 on Wednesday. The company has a market cap of $298.42 million, a P/E ratio of -1.23 and a beta of 3.24. The stock’s fifty day moving average price is $2.80 and its two-hundred day moving average price is $2.50. Cabaletta Bio, Inc. has a 1 year low of $0.99 and a 1 year high of $3.78.

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.