Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $30.11 Consensus Price Target from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.11.

A number of brokerages have recently weighed in on CABA. HC Wainwright cut their target price on shares of Cabaletta Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 target price on shares of Cabaletta Bio in a report on Monday, June 17th. Evercore ISI lowered their target price on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company reduced their price target on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in Cabaletta Bio by 65.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $60,000 after acquiring an additional 1,042 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Cabaletta Bio by 65.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,206 shares of the company’s stock worth $140,000 after purchasing an additional 3,244 shares during the period. EntryPoint Capital LLC purchased a new stake in Cabaletta Bio during the 1st quarter valued at $147,000. Bayesian Capital Management LP bought a new position in shares of Cabaletta Bio during the 1st quarter valued at $191,000. Finally, Birchview Capital LP purchased a new position in shares of Cabaletta Bio in the 4th quarter worth $227,000.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $6.06 on Wednesday. Cabaletta Bio has a fifty-two week low of $3.47 and a fifty-two week high of $26.35. The firm has a market cap of $292.56 million, a P/E ratio of -3.54 and a beta of 2.42. The business’s 50 day moving average price is $6.84 and its 200-day moving average price is $13.07.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). As a group, equities analysts predict that Cabaletta Bio will post -2.07 EPS for the current year.

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.