Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.50.

Several equities research analysts recently weighed in on CABA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Wall Street Zen lowered Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Wells Fargo & Company raised their price target on Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Monday, May 4th.

Institutional Trading of Cabaletta Bio

Institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its position in Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock worth $13,421,000 after buying an additional 5,195,285 shares during the last quarter. Millennium Management LLC grew its stake in shares of Cabaletta Bio by 298.5% in the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock worth $5,994,000 after acquiring an additional 2,050,099 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cabaletta Bio by 17.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after purchasing an additional 1,495,768 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Cabaletta Bio by 75.2% during the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock valued at $4,997,000 after purchasing an additional 916,884 shares during the last quarter. Finally, Ikarian Capital LLC bought a new position in Cabaletta Bio during the fourth quarter valued at approximately $1,971,000.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $2.69 on Wednesday. The company has a 50-day moving average price of $3.14 and a 200-day moving average price of $3.02. Cabaletta Bio has a 12 month low of $1.26 and a 12 month high of $4.23. The stock has a market cap of $438.60 million, a price-to-earnings ratio of -1.37 and a beta of 3.26.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. Equities analysts forecast that Cabaletta Bio will post -1.38 EPS for the current fiscal year.

About Cabaletta Bio

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.