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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average rating of “Buy” by the ten research firms that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.25.

CABA has been the subject of several research reports. UBS Group began coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Evercore ISI decreased their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Finally, William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th.

Cabaletta Bio Trading Down 13.8 %

NASDAQ CABA opened at $3.56 on Friday. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35. The firm has a market capitalization of $174.01 million, a P/E ratio of -1.66 and a beta of 2.37. The business has a fifty day simple moving average of $3.87 and a 200 day simple moving average of $6.07.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently made changes to their positions in CABA. E Fund Management Co. Ltd. boosted its position in Cabaletta Bio by 1,610.1% in the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after buying an additional 269,675 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Cabaletta Bio by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after purchasing an additional 84,633 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cabaletta Bio by 6.8% during 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 last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Cabaletta Bio in the first quarter valued at $305,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Cabaletta Bio by 70.7% in the second quarter. Victory Capital Management Inc. now owns 634,217 shares of the company’s stock valued at $4,744,000 after buying an additional 262,594 shares during the last quarter.

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.