Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $15.50 Average Price Target from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $15.50.

CABA has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Wells Fargo & Company raised their target price on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Guggenheim raised their price target on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Wall Street Zen raised shares of Cabaletta Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday.

Institutional Trading of Cabaletta Bio

A number of hedge funds have recently bought and sold shares of CABA. Kestra Advisory Services LLC acquired a new stake in Cabaletta Bio during the first quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. acquired a new stake in Cabaletta Bio during the fourth quarter worth approximately $34,000. SummitTX Capital L.P. acquired a new stake in Cabaletta Bio during the first quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in Cabaletta Bio during the fourth quarter worth approximately $38,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Cabaletta Bio during the fourth quarter worth approximately $43,000.

Cabaletta Bio Trading Down 7.4%

NASDAQ:CABA opened at $3.25 on Tuesday. The firm has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $2.86. Cabaletta Bio has a twelve month low of $1.26 and a twelve month high of $4.23. The company has a market capitalization of $529.91 million, a P/E ratio of -1.66 and a beta of 3.21.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.02. On average, equities research analysts predict that Cabaletta Bio will post -1.38 earnings per share for the current year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.