Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $34.44

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $34.44.

A number of research firms have recently weighed in on CABA. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Cabaletta Bio in a research note on Friday, June 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price target on shares of Cabaletta Bio in a research note on Friday, June 21st. Wells Fargo & Company increased their price target on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a research note on Monday, June 17th. Finally, Citigroup raised their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $7.55 on Tuesday. The stock’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $16.93. Cabaletta Bio has a 52-week low of $6.90 and a 52-week high of $26.35. The company has a market cap of $364.51 million, a price-to-earnings ratio of -4.42 and a beta of 2.42.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). On average, equities analysts predict that Cabaletta Bio will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently added to or reduced their stakes in CABA. Jennison Associates LLC increased its holdings in Cabaletta Bio by 110.4% during the 1st 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. Perceptive Advisors LLC grew its holdings in shares of Cabaletta Bio by 76.9% in the 4th quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after acquiring an additional 870,567 shares in the last quarter. Redmile Group LLC grew its holdings in shares of Cabaletta Bio by 29.5% in the 3rd quarter. Redmile Group LLC now owns 1,774,252 shares of the company’s stock valued at $27,004,000 after acquiring an additional 403,953 shares in the last quarter. Blackstone Inc. bought a new position in shares of Cabaletta Bio in the 4th quarter valued at about $7,888,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Cabaletta Bio by 506.0% in the 4th quarter. Victory Capital Management Inc. now owns 403,927 shares of the company’s stock valued at $9,169,000 after acquiring an additional 337,277 shares in the last quarter.

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.