Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.25.

A number of research firms recently issued reports on CABA. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th. Jefferies Financial Group assumed coverage on Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 price target on the stock. Cantor Fitzgerald upped their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st.

Insider Activity

In other news, insider Steve Gavel bought 22,170 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were bought at an average cost of $2.27 per share, with a total value of $50,325.90. Following the acquisition, the insider owned 22,170 shares in the company, valued at $50,325.90. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven Nichtberger bought 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was purchased at an average price of $2.24 per share, with a total value of $100,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,031,483 shares in the company, valued at $2,310,521.92. The trade was a 4.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 127,668 shares of company stock valued at $286,211 over the last quarter. 11.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in shares of Cabaletta Bio by 357.1% during the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after acquiring an additional 48,181 shares during the last quarter. Comerica Bank increased its holdings in shares of Cabaletta Bio by 2,292.1% in the first 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 last quarter. AQR Capital Management LLC bought a new position in shares of Cabaletta Bio in the first quarter valued at about $102,000. Jennison Associates LLC raised its position in shares of Cabaletta Bio by 147.4% in the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after purchasing an additional 3,586,439 shares during the period. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of Cabaletta Bio during the 2nd quarter worth about $32,000.

Cabaletta Bio Price Performance

CABA stock opened at $3.02 on Wednesday. The stock has a market capitalization of $290.72 million, a P/E ratio of -1.19 and a beta of 3.25. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $3.67. The business has a 50-day moving average of $2.34 and a 200-day moving average of $2.16.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Monday, November 10th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Equities analysts expect that Cabaletta Bio will post -2.34 EPS for the current year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.