Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $16.25 Average Target Price from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $16.25.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $2.94 on Thursday. The firm has a market capitalization of $283.00 million, a price-to-earnings ratio of -1.16 and a beta of 3.25. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.78. The stock has a fifty day moving average of $2.85 and a 200 day moving average of $2.52.

Insider Activity at Cabaletta Bio

In related news, insider Steve Gavel bought 22,170 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was acquired at an average cost of $2.27 per share, for a total transaction of $50,325.90. Following the completion of the transaction, the insider directly owned 22,170 shares in the company, valued at $50,325.90. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shawn Tomasello purchased 22,725 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was bought at an average cost of $2.21 per share, with a total value of $50,222.25. Following the purchase, the director owned 22,725 shares in the company, valued at approximately $50,222.25. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 127,668 shares of company stock valued at $286,211 in the last ninety days. 11.25% of the stock is currently owned by company insiders.

Institutional Trading of Cabaletta Bio

Hedge funds have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC increased its stake in Cabaletta Bio by 250.5% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after acquiring an additional 6,916,237 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio in the 2nd quarter worth about $3,036,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Cabaletta Bio during the 2nd quarter valued at about $32,000. Clear Harbor Asset Management LLC bought a new position in shares of Cabaletta Bio during the 4th quarter valued at about $43,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Cabaletta Bio during the 4th quarter valued at about $38,000.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.