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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.38.

CABA has been the topic of several analyst reports. UBS Group started 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. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $12.00 to $6.00 in a report on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday, January 17th.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $2.54 on Friday. The stock’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $4.31. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35. The company has a market capitalization of $124.16 million, a price-to-earnings ratio of -1.18 and a beta of 2.46.

Hedge Funds Weigh In On Cabaletta Bio

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Cabaletta Bio by 23.3% in the 4th quarter. SG Americas Securities LLC now owns 43,259 shares of the company’s stock valued at $98,000 after buying an additional 8,161 shares during the period. Avanza Fonder AB acquired a new stake in shares of Cabaletta Bio during the 4th quarter valued at about $40,000. Barclays PLC boosted its position in shares of Cabaletta Bio by 48.2% during the 3rd quarter. Barclays PLC now owns 61,130 shares of the company’s stock valued at $288,000 after acquiring an additional 19,891 shares in the last quarter. Geode Capital Management LLC increased its stake in Cabaletta Bio by 12.8% in the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after acquiring an additional 124,071 shares during the period. Finally, XTX Topco Ltd raised its position in Cabaletta Bio by 490.2% in the third quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares in the last quarter.

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.