Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.33.

A number of equities analysts have commented on CABA shares. Guggenheim raised their price objective on Cabaletta Bio from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley reduced their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company reduced their target price on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Citigroup reduced their target price on Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Wednesday, June 11th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its position in Cabaletta Bio by 195.8% during the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after purchasing an additional 550,700 shares during the last quarter. BIT Capital GmbH bought a new position in shares of Cabaletta Bio in the 4th quarter worth about $431,000. Renaissance Technologies LLC bought a new position in shares of Cabaletta Bio in the 4th quarter worth about $522,000. Two Sigma Investments LP raised its position in shares of Cabaletta Bio by 78.8% in the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock worth $1,707,000 after acquiring an additional 331,417 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Cabaletta Bio by 89.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock worth $2,874,000 after acquiring an additional 598,607 shares in the last quarter.

Cabaletta Bio Trading Down 2.8%

Cabaletta Bio stock opened at $1.94 on Tuesday. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $10.54. The stock’s 50 day moving average is $1.57 and its 200-day moving average is $2.00. The company has a market capitalization of $98.19 million, a price-to-earnings ratio of -0.90 and a beta of 2.81.

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

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.