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

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.50.

CABA has been the subject of a number of research analyst reports. Guggenheim increased their price target on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Morgan Stanley reduced their price objective on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th.

Institutional Trading of Cabaletta Bio

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new position in shares of Cabaletta Bio during the 1st quarter valued at approximately $32,000. SummitTX Capital L.P. bought a new stake in shares of Cabaletta Bio in the 1st quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Cabaletta Bio in the 4th quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd purchased a new position in Cabaletta Bio in the fourth quarter valued at approximately $38,000. Finally, Private Advisor Group LLC lifted its stake in Cabaletta Bio by 22.4% in the first quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock valued at $48,000 after purchasing an additional 3,300 shares during the last quarter.

Cabaletta Bio Price Performance

CABA opened at $2.82 on Wednesday. The company’s 50-day moving average is $3.19 and its 200 day moving average is $3.01. Cabaletta Bio has a fifty-two week low of $1.26 and a fifty-two week high of $4.23. The firm has a market capitalization of $459.82 million, a P/E ratio of -1.44 and a beta of 3.26.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. On average, equities research analysts expect that Cabaletta Bio will post -1.38 earnings per share 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.