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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.38.

CABA has been the subject of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, November 15th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. UBS Group assumed coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $6.00 in a report on Thursday, December 19th.

Cabaletta Bio Stock Down 2.2 %

Shares of CABA opened at $2.24 on Tuesday. The firm has a market cap of $109.48 million, a price-to-earnings ratio of -1.04 and a beta of 2.37. The business’s 50 day moving average is $3.28 and its two-hundred day moving average is $5.02. Cabaletta Bio has a 52-week low of $1.76 and a 52-week high of $26.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio in the third quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new position in shares of Cabaletta Bio in the 3rd quarter worth $33,000. China Universal Asset Management Co. Ltd. increased its stake in Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after purchasing an additional 3,724 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $67,000. Finally, GSA Capital Partners LLP acquired a new stake in Cabaletta Bio during the 3rd quarter valued at $127,000.

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.