Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $15.33 Average Price Target from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.3333.

Several research analysts have recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Wall Street Zen cut Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Wells Fargo & Company decreased their price objective on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $2.73 on Thursday. The stock has a market capitalization of $462.84 million, a price-to-earnings ratio of -1.74 and a beta of 3.27. Cabaletta Bio has a one year low of $1.73 and a one year high of $4.23. The company’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.12.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating 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 year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CABA. Legal & General Group Plc bought a new stake in shares of Cabaletta Bio during the 2nd quarter valued at about $34,000. HighTower Advisors LLC bought a new position in Cabaletta Bio in the second quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Cabaletta Bio in the first quarter worth about $32,000. SummitTX Capital L.P. bought a new position in Cabaletta Bio in the first quarter worth about $34,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Cabaletta Bio in the fourth quarter valued at approximately $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.