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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.4286.

A number of equities analysts recently issued reports on the stock. Citigroup lowered their price objective on shares of Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, May 16th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Wednesday, June 11th. Finally, Guggenheim lifted their target price on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th.

Cabaletta Bio Trading Down 3.3%

NASDAQ CABA opened at $1.45 on Friday. The company has a 50 day moving average of $1.59 and a 200-day moving average of $1.64. The company has a market cap of $132.62 million, a price-to-earnings ratio of -0.54 and a beta of 2.74. Cabaletta Bio has a 1-year low of $0.99 and a 1-year high of $6.14.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.02). On average, equities research analysts forecast that Cabaletta Bio will post -2.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently added to or reduced their stakes in CABA. Catalyst Funds Management Pty Ltd acquired a new stake in Cabaletta Bio during the 2nd quarter worth approximately $32,000. Tudor Investment Corp ET AL acquired a new stake in Cabaletta Bio during the 4th quarter worth approximately $47,000. Callan Family Office LLC acquired a new stake in Cabaletta Bio during the 1st quarter worth approximately $58,000. Comerica Bank increased its position in Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after purchasing an additional 39,860 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Cabaletta Bio by 695.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after purchasing an additional 44,621 shares during the period.

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.