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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the ten analysts that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.10.

A number of research firms have recently commented on CABA. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Wells Fargo & Company decreased their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Evercore ISI lowered their target price on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, UBS Group began coverage on Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Cabaletta Bio during the first quarter valued at $147,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Cabaletta Bio during the 1st quarter valued at about $191,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Cabaletta Bio during the first quarter worth about $305,000. Finally, Blair William & Co. IL lifted its holdings in Cabaletta Bio by 47.3% in the first quarter. Blair William & Co. IL now owns 27,300 shares of the company’s stock worth $466,000 after acquiring an additional 8,762 shares during the last quarter.

Cabaletta Bio Price Performance

NASDAQ:CABA opened at $3.71 on Monday. The business’s 50-day moving average is $4.47 and its two-hundred day moving average is $7.44. The firm has a market capitalization of $181.23 million, a PE ratio of -1.95 and a beta of 2.42. Cabaletta Bio has a 12 month low of $3.47 and a 12 month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). Equities analysts anticipate that Cabaletta Bio will post -2.28 EPS for the current year.

Cabaletta Bio Company Profile

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.