Cabaletta Bio (NASDAQ:CABA) Stock Rating Lowered by Wall Street Zen

Cabaletta Bio (NASDAQ:CABA) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

CABA has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Wells Fargo & Company reduced their price target on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 14th. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cabaletta Bio currently has a consensus rating of “Moderate Buy” and an average target price of $15.33.

Cabaletta Bio Stock Performance

Shares of CABA opened at $2.73 on Friday. The firm has a fifty day moving average of $2.94 and a 200-day moving average of $3.12. The company has a market cap of $462.84 million, a price-to-earnings ratio of -1.74 and a beta of 3.27. Cabaletta Bio has a 1 year low of $1.73 and a 1 year high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. Analysts predict that Cabaletta Bio will post -1.34 EPS for the current year.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Cabaletta Bio in the second quarter valued at $34,000. HighTower Advisors LLC acquired a new position in Cabaletta Bio during the second quarter worth about $34,000. Kestra Advisory Services LLC acquired a new position in Cabaletta Bio during the first quarter worth about $32,000. SummitTX Capital L.P. bought a new stake in Cabaletta Bio in the first quarter worth about $34,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Cabaletta Bio in the fourth quarter worth about $38,000.

About Cabaletta Bio

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.