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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $34.33.

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They set a “buy” rating and a $36.00 price target for the company. HC Wainwright boosted their target price on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Citigroup increased their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th.

Insider Activity

In related news, insider Gwendolyn Binder sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $19.59, for a total transaction of $215,490.00. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at $391,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Macroview Investment Management LLC bought a new position in shares of Cabaletta Bio in the fourth quarter valued at $26,000. Comerica Bank purchased a new stake in Cabaletta Bio in the 3rd quarter worth approximately $31,000. Ameritas Investment Partners Inc. acquired a new stake in Cabaletta Bio during the second quarter valued at $27,000. Tower Research Capital LLC TRC grew its stake in Cabaletta Bio by 65.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $60,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Cabaletta Bio in the third quarter worth approximately $63,000.

Cabaletta Bio Stock Down 7.0 %

Shares of Cabaletta Bio stock opened at $15.15 on Thursday. The business has a 50-day moving average price of $20.07 and a 200 day moving average price of $18.97. Cabaletta Bio has a fifty-two week low of $7.69 and a fifty-two week high of $26.35. The firm has a market cap of $730.84 million, a P/E ratio of -9.18 and a beta of 2.41.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, March 21st. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). As a group, equities research analysts anticipate that Cabaletta Bio will post -1.82 earnings per share for the current year.

Cabaletta Bio Company Profile

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.