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

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $28.10.

Several equities research analysts have weighed in on CABA shares. UBS Group initiated coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target on the stock. Wells Fargo & Company dropped their price objective on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 17th. Evercore ISI dropped their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, June 21st.

Institutional Trading of Cabaletta Bio

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Cabaletta Bio by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock worth $519,000 after acquiring an additional 1,711 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Cabaletta Bio by 65.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 8,206 shares of the company’s stock worth $140,000 after acquiring an additional 3,244 shares during the period. The Manufacturers Life Insurance Company lifted its position in Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after acquiring an additional 4,191 shares during the period. AlphaCentric Advisors LLC lifted its position in Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock worth $524,000 after acquiring an additional 5,000 shares during the period. Finally, TD Asset Management Inc lifted its position in Cabaletta Bio by 5.5% during the 2nd quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock worth $1,003,000 after acquiring an additional 7,000 shares during the period.

Cabaletta Bio Price Performance

Shares of NASDAQ CABA opened at $4.25 on Thursday. The stock’s 50-day moving average is $4.71 and its two-hundred day moving average is $8.70. Cabaletta Bio has a 1-year low of $3.47 and a 1-year high of $26.35. The company has a market cap of $205.18 million, a price-to-earnings ratio of -2.49 and a beta of 2.39.

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