Cabaletta Bio (NASDAQ:CABA) Receives “Overweight” Rating from Cantor Fitzgerald

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research note issued to investors on Monday,Benzinga reports. They presently have a $30.00 price objective on the stock.

A number of other equities analysts also recently weighed in on CABA. Wall Street Zen downgraded shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Morgan Stanley decreased their price objective on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Guggenheim upped their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $2.94 on Monday. Cabaletta Bio has a 1-year low of $1.11 and a 1-year high of $3.78. The company has a market capitalization of $327.28 million, a PE ratio of -1.29 and a beta of 3.18. The firm’s fifty day simple moving average is $3.08 and its 200-day simple moving average is $2.70.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. As a group, analysts predict that Cabaletta Bio will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in Cabaletta Bio in the first quarter worth about $32,000. Private Advisor Group LLC raised its position in Cabaletta Bio by 22.4% in the first quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock worth $48,000 after purchasing an additional 3,300 shares in the last quarter. Grey Ledge Advisors LLC acquired a new position in Cabaletta Bio in the first quarter worth about $54,000. T. Rowe Price Investment Management Inc. raised its position in Cabaletta Bio by 17.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after purchasing an additional 1,495,768 shares in the last quarter. Finally, Invesco Ltd. raised its position in Cabaletta Bio by 54.1% in the fourth quarter. Invesco Ltd. now owns 189,195 shares of the company’s stock worth $414,000 after purchasing an additional 66,395 shares in the last quarter.

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.