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

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $30.11.

CABA has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 17th. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, June 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Cabaletta Bio in a research report on Monday, June 17th. Finally, Evercore ISI dropped their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

Cabaletta Bio Price Performance

Shares of CABA stock opened at $4.70 on Friday. The company’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $10.42. The firm has a market capitalization of $226.90 million, a P/E ratio of -2.75 and a beta of 2.40. Cabaletta Bio has a 12 month low of $3.47 and a 12 month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). On average, sell-side analysts anticipate that Cabaletta Bio will post -2.21 EPS for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors have recently bought and sold shares of CABA. E Fund Management Co. Ltd. raised its position in shares of Cabaletta Bio by 1,610.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock worth $2,142,000 after buying an additional 269,675 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cabaletta Bio by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after acquiring an additional 84,633 shares during the period. Perceptive Advisors LLC raised its holdings in Cabaletta Bio by 76.9% during the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock worth $45,469,000 after purchasing an additional 870,567 shares in the last quarter. Jennison Associates LLC raised its holdings in Cabaletta Bio by 110.4% during the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock worth $58,396,000 after purchasing an additional 1,796,356 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Cabaletta Bio by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after purchasing an additional 144,291 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.