Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Rating of “Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA – Get Rating) have received a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.20.

Several research firms have issued reports on CABA. Mizuho cut their price target on shares of Cabaletta Bio from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 18th. HC Wainwright cut their price target on shares of Cabaletta Bio from $22.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 18th. Finally, Zacks Investment Research lowered shares of Cabaletta Bio from a “buy” rating to a “hold” rating in a report on Tuesday, February 15th.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Cabaletta Bio during the 1st quarter valued at about $405,000. Vanguard Group Inc. grew its stake in Cabaletta Bio by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 1,051,838 shares of the company’s stock valued at $2,135,000 after acquiring an additional 147,346 shares in the last quarter. CI Investments Inc. purchased a new stake in Cabaletta Bio during the 1st quarter valued at about $262,000. Acadian Asset Management LLC purchased a new stake in Cabaletta Bio during the 1st quarter valued at about $298,000. Finally, Veritable L.P. grew its stake in Cabaletta Bio by 254.7% during the 1st quarter. Veritable L.P. now owns 37,245 shares of the company’s stock valued at $76,000 after acquiring an additional 26,745 shares in the last quarter. 62.75% of the stock is owned by institutional investors and hedge funds.

Shares of Cabaletta Bio stock traded up $0.17 on Friday, hitting $1.49. 118,402 shares of the company traded hands, compared to its average volume of 172,872. The stock’s 50 day moving average price is $1.74 and its 200-day moving average price is $4.84. Cabaletta Bio has a 52 week low of $1.17 and a 52 week high of $14.95. The company has a market cap of $37.35 million, a PE ratio of -0.81 and a beta of 1.53.

Cabaletta Bio (NASDAQ:CABA – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.08. On average, analysts forecast that Cabaletta Bio will post -2.56 EPS for the current fiscal year.

Cabaletta Bio Company Profile (Get Rating)

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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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