Guggenheim Forecasts Strong Price Appreciation for Cabaletta Bio (NASDAQ:CABA) Stock

Cabaletta Bio (NASDAQ:CABA) had its target price raised by stock analysts at Guggenheim from $23.00 to $25.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities research analysts have also recently commented on the company. Morgan Stanley lowered their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company lowered their target price on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Finally, UBS Group lowered their target price on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cabaletta Bio currently has a consensus rating of “Buy” and a consensus target price of $20.33.

Cabaletta Bio Stock Performance

Shares of CABA opened at $2.03 on Thursday. The stock has a fifty day moving average price of $1.37 and a two-hundred day moving average price of $2.22. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $13.50. The company has a market cap of $103.01 million, a price-to-earnings ratio of -0.94 and a beta of 2.72.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.04). As a group, research analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently made changes to their positions in CABA. Miller Financial Services LLC acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $33,000. Avanza Fonder AB acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $40,000. Intech Investment Management LLC grew its stake in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after purchasing an additional 5,999 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $47,000. Finally, Callan Family Office LLC acquired a new stake in shares of Cabaletta Bio during the first quarter worth $58,000.

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.