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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Buy” by the ten brokerages that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.10.

Several research analysts recently issued reports on CABA shares. UBS Group started coverage on shares of Cabaletta Bio in a research report on Thursday. They set a “buy” rating and a $10.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Cabaletta Bio in a research report on Monday, June 17th.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Cabaletta Bio during the third quarter worth about $166,000. The Manufacturers Life Insurance Company increased its stake in shares of Cabaletta Bio by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after buying an additional 4,191 shares during the period. Millennium Management LLC increased its stake in shares of Cabaletta Bio by 24.8% in the second quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock valued at $5,223,000 after buying an additional 138,950 shares during the period. AXA S.A. increased its stake in shares of Cabaletta Bio by 52.0% in the second quarter. AXA S.A. now owns 270,778 shares of the company’s stock valued at $2,025,000 after buying an additional 92,616 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Cabaletta Bio by 643.3% in the second quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock valued at $2,359,000 after buying an additional 272,948 shares during the period.

Cabaletta Bio Trading Up 6.6 %

CABA opened at $4.21 on Thursday. The company has a fifty day simple moving average of $4.75 and a 200 day simple moving average of $8.84. The firm has a market cap of $205.66 million, a price-to-earnings ratio of -2.22 and a beta of 2.39. Cabaletta Bio has a twelve month low of $3.47 and a twelve month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly 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). On average, analysts forecast that Cabaletta Bio will post -2.28 earnings per share for the current fiscal year.

Cabaletta Bio Company Profile

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.