Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Has Consensus Target Price of $15.60

Cabaletta Bio, Inc. (NASDAQ:CABA) has received a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.60.

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Cabaletta Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th. William Blair upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Wednesday, September 23rd. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Wells Fargo & Company lowered their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 1st.

Institutional Trading of Cabaletta Bio

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Cabaletta Bio in the second quarter valued at about $33,447,000. Jennison Associates LLC raised its holdings in Cabaletta Bio by 0.7% during the 1st quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock valued at $24,131,000 after acquiring an additional 64,879 shares during the period. Opaleye Management Inc. raised its position in shares of Cabaletta Bio by 180.0% in the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock worth $12,016,000 after buying an additional 2,483,800 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Cabaletta Bio by 33.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company’s stock worth $5,479,000 after purchasing an additional 514,080 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in shares of Cabaletta Bio in the second quarter worth $2,852,181.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA opened at $1.51 on Friday. The company has a market capitalization of $256.01 million, a PE ratio of -0.96 and a beta of 3.56. The stock has a fifty day moving average of $2.30 and a 200-day moving average of $2.84. Cabaletta Bio has a one year low of $1.32 and a one year high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, research analysts forecast that Cabaletta Bio will post -1.34 EPS for the current fiscal year.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.