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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.00.

Several equities research analysts recently commented on the stock. Morgan Stanley cut their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group decreased their price objective on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday. Finally, Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price target for the company from $15.00 to $6.00 in a research note on Friday, December 20th.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC boosted its stake in Cabaletta Bio by 111.6% during the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after acquiring an additional 212,025 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Cabaletta Bio in the third quarter valued at $3,150,000. BIT Capital GmbH acquired a new position in shares of Cabaletta Bio during the fourth quarter valued at about $431,000. Geode Capital Management LLC boosted its position in shares of Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Cabaletta Bio by 48.2% in the 3rd quarter. Barclays PLC now owns 61,130 shares of the company’s stock valued at $288,000 after buying an additional 19,891 shares during the period.

Cabaletta Bio Trading Up 6.0 %

Shares of CABA stock opened at $1.24 on Thursday. The firm has a market capitalization of $60.61 million, a price-to-earnings ratio of -0.58 and a beta of 2.58. The business’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.92. Cabaletta Bio has a 12 month low of $1.16 and a 12 month high of $19.04.

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.