Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $34.33

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $34.33.

Several equities analysts recently commented on CABA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a report on Friday, April 5th. Wells Fargo & Company lifted their price objective on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. HC Wainwright boosted their target price on Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Citigroup raised their price target on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group assumed coverage on Cabaletta Bio in a research report on Monday, February 5th. They issued a “buy” rating and a $36.00 price objective for the company.

Cabaletta Bio Trading Down 0.1 %

Shares of Cabaletta Bio stock opened at $13.32 on Thursday. The firm has a market capitalization of $642.56 million, a PE ratio of -8.07 and a beta of 2.42. Cabaletta Bio has a 12 month low of $7.69 and a 12 month high of $26.35. The business’s 50-day moving average price is $19.38 and its 200-day moving average price is $18.98.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). As a group, analysts predict that Cabaletta Bio will post -1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Cabaletta Bio by 14.3% in the third quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock worth $29,955,000 after buying an additional 246,596 shares during the period. Swiss National Bank purchased a new position in shares of Cabaletta Bio in the 3rd quarter valued at approximately $930,000. Citigroup Inc. boosted its position in shares of Cabaletta Bio by 552.4% during the third quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock valued at $756,000 after purchasing an additional 42,078 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $3,753,000. Finally, Jennison Associates LLC grew its stake in Cabaletta Bio by 20.5% in the third quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock worth $21,648,000 after purchasing an additional 241,803 shares during the period.

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 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.