Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Has Consensus Target Price of $15.33

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $15.33.

A number of research firms recently issued reports on CABA. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen raised Cabaletta Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 26th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Finally, Wells Fargo & Company dropped their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th.

Cabaletta Bio Trading Down 2.5%

Cabaletta Bio stock opened at $1.97 on Monday. The company has a market cap of $333.99 million, a P/E ratio of -1.25 and a beta of 3.48. Cabaletta Bio has a 1-year low of $1.83 and a 1-year high of $4.23. The company has a fifty day simple moving average of $2.73 and a 200 day simple moving average of $3.00.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.03. On average, equities research analysts forecast that Cabaletta Bio will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors have recently added to or reduced their stakes in CABA. Legal & General Group Plc bought a new position in shares of Cabaletta Bio in the 2nd quarter valued at about $34,000. HighTower Advisors LLC acquired a new position in shares of Cabaletta Bio during the 2nd quarter worth about $34,000. Kestra Advisory Services LLC bought a new stake in shares of Cabaletta Bio in the 1st quarter valued at about $32,000. SummitTX Capital L.P. bought a new stake in shares of Cabaletta Bio in the 1st quarter valued at about $34,000. Finally, Callan Family Office LLC acquired a new stake in Cabaletta Bio in the 2nd quarter valued at about $54,000.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company’s approach is designed to selectively target and eliminate disease-causing B cells or autoreactive immune cells while seeking to restore a healthier immune system.

Cabaletta’s lead program is CABA-201, a fully human CD19-directed chimeric antigen receptor T-cell therapy being evaluated across multiple autoimmune conditions. The company has also developed a platform for creating targeted cellular therapies, including investigational product candidates intended for diseases such as pemphigus and other antibody-mediated autoimmune disorders.

Founded in 2017 and headquartered in Philadelphia, Pennsylvania, Cabaletta Bio conducts research and clinical development primarily in the United States.