Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $24.38

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.38.

A number of research firms have weighed in on CABA. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $15.00 to $6.00 in a research note on Friday, December 20th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a report on Friday, November 15th. Finally, William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock opened at $2.49 on Tuesday. The stock has a market cap of $121.70 million, a PE ratio of -1.16 and a beta of 2.37. The firm has a fifty day moving average price of $3.33 and a 200 day moving average price of $5.17. Cabaletta Bio has a 1 year low of $1.76 and a 1 year high of $26.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. China Universal Asset Management Co. Ltd. lifted its holdings 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 valued at $44,000 after purchasing an additional 3,724 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Cabaletta Bio by 8.0% during the second 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cabaletta Bio in the 3rd quarter valued at $32,000. Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio in the 3rd quarter worth $33,000. Finally, TD Asset Management Inc raised its holdings 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 acquiring 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.