Weekly Analysts’ Ratings Updates for Cabaletta Bio (CABA)

Cabaletta Bio (NASDAQ: CABA) recently received a number of ratings updates from brokerages and research firms:

• 11/29/2024 – Cabaletta Bio was upgraded by analysts at TD Cowen to a “strong-buy” rating.
• 11/18/2024 – Cabaletta Bio had its “outperform” rating reaffirmed by analysts at William Blair.
• 11/15/2024 – Cabaletta Bio had its price target lowered by analysts at Wells Fargo & Company from $20.00 to $12.00. They now have an “overweight” rating on the stock.
• 11/15/2024 – Cabaletta Bio had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $25.00 price target on the stock.
• 10/10/2024 – Cabaletta Bio is now covered by analysts at UBS Group AG. They set a “buy” rating and a $10.00 price target on the stock.

Cabaletta Bio Price Performance

Shares of NASDAQ CABA opened at $4.13 on Tuesday. The stock has a market capitalization of $201.86 million, a P/E ratio of -1.92 and a beta of 2.42. Cabaletta Bio, Inc. has a 1-year low of $1.76 and a 1-year high of $26.35. The business has a fifty day moving average price of $3.88 and a 200 day moving average price of $6.19.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CABA. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 1.6% in the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock valued at $26,586,000 after buying an additional 86,214 shares during the period. Fred Alger Management LLC lifted its holdings in Cabaletta Bio by 63.3% in the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after acquiring an additional 1,596,512 shares during the period. Vanguard Group Inc. boosted its position in Cabaletta Bio by 6.8% in the 1st 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 in the last quarter. Sofinnova Investments Inc. boosted its position in Cabaletta Bio by 184.0% in the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 790,654 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Cabaletta Bio by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares in the last quarter.

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.