Cabaletta Bio (NASDAQ:CABA) Price Target Raised to $16.00

Cabaletta Bio (NASDAQ:CABA) had its price objective hoisted by Guggenheim from $15.00 to $16.00 in a research report released on Tuesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley decreased their price objective on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cabaletta Bio presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Cabaletta Bio Stock Up 1.4%

Cabaletta Bio stock opened at $2.82 on Tuesday. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.78. The firm has a market capitalization of $313.92 million, a price-to-earnings ratio of -1.24 and a beta of 3.25. The firm has a 50-day moving average price of $2.90 and a two-hundred day moving average price of $2.55.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. Research analysts expect that Cabaletta Bio will post -2.34 earnings per share for the current year.

Insider Transactions at Cabaletta Bio

In other Cabaletta Bio news, CEO Steven Nichtberger purchased 45,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was bought at an average cost of $2.24 per share, with a total value of $100,800.00. Following the acquisition, the chief executive officer owned 1,031,483 shares of the company’s stock, valued at $2,310,521.92. The trade was a 4.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steve Gavel bought 22,170 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average cost of $2.27 per share, with a total value of $50,325.90. Following the completion of the purchase, the insider owned 22,170 shares of the company’s stock, valued at approximately $50,325.90. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 127,668 shares of company stock worth $286,211. Corporate insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CABA. T. Rowe Price Investment Management Inc. lifted its position in shares of Cabaletta Bio by 17.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after acquiring an additional 1,495,768 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cabaletta Bio by 54.1% in the 4th quarter. Invesco Ltd. now owns 189,195 shares of the company’s stock worth $414,000 after acquiring an additional 66,395 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $58,000. KVP Capital Advisors LP acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $1,107,000. Finally, Ikarian Capital LLC purchased a new stake in shares of Cabaletta Bio during the fourth quarter valued at $1,971,000.

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.