Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) has received a consensus rating of “Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $33.44.
CABA has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Cabaletta Bio in a research note on Monday, February 5th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company lifted their target price on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. HC Wainwright boosted their price objective on Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, March 22nd.
View Our Latest Report on CABA
Insider Transactions at Cabaletta Bio
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CABA. Bank of New York Mellon Corp grew its holdings in shares of Cabaletta Bio by 120.2% during the first quarter. Bank of New York Mellon Corp now owns 22,674 shares of the company’s stock valued at $46,000 after buying an additional 12,379 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cabaletta Bio during the first quarter valued at $298,000. Vanguard Group Inc. grew its holdings in shares of Cabaletta Bio by 16.3% during the first quarter. Vanguard Group Inc. now owns 1,051,838 shares of the company’s stock valued at $2,135,000 after buying an additional 147,346 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Cabaletta Bio during the first quarter valued at $405,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Cabaletta Bio by 81.6% during the first quarter. Dynamic Technology Lab Private Ltd now owns 19,250 shares of the company’s stock valued at $39,000 after buying an additional 8,648 shares in the last quarter.
Cabaletta Bio Price Performance
Shares of Cabaletta Bio stock opened at $17.06 on Friday. The business’s fifty day moving average price is $21.42 and its two-hundred day moving average price is $18.85. The company has a market capitalization of $822.97 million, a P/E ratio of -10.39 and a beta of 2.46. Cabaletta Bio has a 1-year low of $6.94 and a 1-year high of $26.35.
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 DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease.
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