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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.11.

CABA has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Evercore ISI lowered their target price on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. HC Wainwright lowered their target price on Cabaletta Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price on shares of Cabaletta Bio in a report on Monday, June 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $4.11 on Friday. The firm has a market cap of $198.42 million, a price-to-earnings ratio of -2.40 and a beta of 2.40. The business’s 50-day simple moving average is $5.98 and its 200-day simple moving average is $11.06. Cabaletta Bio has a 52 week low of $3.47 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, equities research analysts forecast that Cabaletta Bio will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Cabaletta Bio by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock worth $519,000 after buying an additional 1,711 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Cabaletta Bio by 65.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,206 shares of the company’s stock worth $140,000 after buying an additional 3,244 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after buying an additional 4,191 shares during the period. AlphaCentric Advisors LLC lifted its position in shares of Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock worth $524,000 after buying an additional 5,000 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Cabaletta Bio by 5.5% during the 2nd quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock worth $1,003,000 after buying an additional 7,000 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.