Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $30.11 Consensus Target Price from Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average recommendation of “Buy” from the nine research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $30.11.

A number of analysts have recently weighed in on CABA shares. Evercore ISI reduced their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a research note on Monday, June 17th. Wells Fargo & Company reduced their price objective on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, June 21st. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research note on Tuesday.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $4.19 on Friday. Cabaletta Bio has a 1-year low of $3.47 and a 1-year high of $26.35. The business has a 50 day simple moving average of $5.83 and a two-hundred day simple moving average of $10.70. The stock has a market capitalization of $202.28 million, a PE ratio of -2.45 and a beta of 2.40.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). On average, analysts anticipate that Cabaletta Bio will post -2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its stake in shares of Cabaletta Bio by 110.4% during the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after buying an additional 1,796,356 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after buying an additional 144,291 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Cabaletta Bio by 76.9% in the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after purchasing an additional 870,567 shares during the period. Sofinnova Investments Inc. boosted its holdings in shares of Cabaletta Bio by 184.0% in the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock valued at $9,129,000 after purchasing an additional 790,654 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Cabaletta Bio by 24.8% in the second quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock valued at $5,223,000 after purchasing an additional 138,950 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.