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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.71.

A number of equities analysts have recently weighed in on CABA shares. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their target price for the company from $15.00 to $6.00 in a report on Friday, December 20th.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP boosted its position in Cabaletta Bio by 195.8% during the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after acquiring an additional 550,700 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Cabaletta Bio by 78.8% in the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock valued at $1,707,000 after purchasing an additional 331,417 shares during the period. Raiffeisen Bank International AG purchased a new position in Cabaletta Bio during the fourth quarter worth about $493,000. Point72 Asset Management L.P. grew its holdings in Cabaletta Bio by 89.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock valued at $2,874,000 after buying an additional 598,607 shares during the period. Finally, Integral Health Asset Management LLC lifted its holdings in shares of Cabaletta Bio by 11.1% during the 4th quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $1,135,000 after acquiring an additional 50,000 shares during the period.

Cabaletta Bio Trading Down 1.6 %

NASDAQ CABA opened at $1.85 on Friday. The stock has a market capitalization of $90.42 million, a price-to-earnings ratio of -0.86 and a beta of 2.58. The business’s 50 day moving average is $2.30 and its two-hundred day moving average is $3.36. Cabaletta Bio has a 12-month low of $1.59 and a 12-month high of $22.75.

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.