Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.44.

CABA has been the topic of several research analyst reports. Citigroup lifted their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Cabaletta Bio in a research note on Friday, June 14th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 target price on shares of Cabaletta Bio in a report on Monday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, June 21st. Finally, Wells Fargo & Company raised their price objective on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd.

Cabaletta Bio Price Performance

Shares of CABA stock opened at $7.81 on Tuesday. The company has a market cap of $377.04 million, a PE ratio of -4.57 and a beta of 2.47. The stock’s 50 day simple moving average is $10.88 and its two-hundred day simple moving average is $17.25. Cabaletta Bio has a 1 year low of $6.90 and a 1 year high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). Equities research analysts expect that Cabaletta Bio will post -2.07 EPS for the current year.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. acquired a new stake in shares of Cabaletta Bio during the first quarter valued at approximately $1,403,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Cabaletta Bio during the first quarter valued at approximately $305,000. California State Teachers Retirement System raised its holdings in shares of Cabaletta Bio by 6.0% during the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after acquiring an additional 1,711 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Cabaletta Bio during the first quarter valued at approximately $191,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Cabaletta Bio by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after buying an additional 84,633 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.