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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.30.

Several equities analysts have weighed in on CABA shares. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. UBS Group initiated coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Friday, November 15th. Finally, Evercore ISI lowered their price target on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th.

Cabaletta Bio Trading Up 24.4 %

Shares of CABA stock opened at $3.01 on Friday. The stock has a market capitalization of $147.12 million, a price-to-earnings ratio of -1.40 and a beta of 2.42. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $26.35. The stock’s 50-day moving average price is $3.90 and its 200-day moving average price is $6.32.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in Cabaletta Bio by 6.0% in the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock worth $519,000 after purchasing an additional 1,711 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after buying an additional 3,724 shares during the period. The Manufacturers Life Insurance Company increased its stake in Cabaletta Bio by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after buying an additional 4,191 shares during the period. AlphaCentric Advisors LLC lifted its holdings in Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after buying an additional 5,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cabaletta Bio in the 3rd quarter valued at about $32,000.

About Cabaletta Bio

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.