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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several brokerages recently issued reports on CABA. UBS Group decreased their price objective on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company reduced their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Finally, Guggenheim reissued a “buy” rating and issued a $23.00 price target on shares of Cabaletta Bio in a research note on Tuesday, April 1st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio during the third quarter worth $33,000. Miller Financial Services LLC bought a new stake in Cabaletta Bio during the fourth quarter worth $33,000. Avanza Fonder AB bought a new stake in Cabaletta Bio during the fourth quarter worth $40,000. Finally, Intech Investment Management LLC lifted its stake in Cabaletta Bio by 42.2% in the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock valued at $46,000 after acquiring an additional 5,999 shares during the last quarter.

Cabaletta Bio Stock Performance

CABA opened at $1.15 on Thursday. The firm’s fifty day moving average is $1.95 and its two-hundred day moving average is $2.84. The firm has a market cap of $58.10 million, a PE ratio of -0.53 and a beta of 2.44. Cabaletta Bio has a twelve month low of $0.99 and a twelve month high of $19.04.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). Equities analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Cabaletta Bio Company Profile

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.