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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.25.

A number of analysts recently commented on CABA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st. Cantor Fitzgerald upped their price target on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st.

Insider Buying and Selling

In other news, Director Mark Simon acquired 11,061 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was purchased at an average price of $2.28 per share, with a total value of $25,219.08. Following the purchase, the director owned 147,205 shares of the company’s stock, valued at approximately $335,627.40. This trade represents a 8.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Shawn Tomasello purchased 22,725 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average cost of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the transaction, the director directly owned 22,725 shares of the company’s stock, valued at $50,222.25. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 127,668 shares of company stock valued at $286,211. Insiders own 11.25% of the company’s stock.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently made changes to their positions in the business. Catalyst Funds Management Pty Ltd purchased a new position in Cabaletta Bio during the second quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Cabaletta Bio during the 4th quarter valued at $34,000. CRA Financial Services LLC grew its holdings in shares of Cabaletta Bio by 36.4% during the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Cabaletta Bio in the fourth quarter worth $38,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Cabaletta Bio during the fourth quarter worth $43,000.

Cabaletta Bio Stock Down 7.3%

Shares of CABA stock opened at $2.91 on Friday. The stock has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $2.29. The stock has a market capitalization of $280.12 million, a P/E ratio of -1.15 and a beta of 3.27. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $3.67.

About Cabaletta Bio

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.