Cabaletta Bio (NASDAQ:CABA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cabaletta Bio (NASDAQ:CABA) from a strong sell rating to a hold rating in a research report released on Sunday morning.

A number of other equities research analysts have also recently commented on the company. Guggenheim raised their price objective on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Morgan Stanley cut their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cabaletta Bio presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Cabaletta Bio Price Performance

CABA stock opened at $2.69 on Friday. The company’s 50-day moving average is $2.93 and its 200-day moving average is $2.58. The stock has a market capitalization of $299.45 million, a PE ratio of -1.18 and a beta of 3.25. Cabaletta Bio has a 1 year low of $0.99 and a 1 year high of $3.78.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Monday, March 30th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cabaletta Bio news, insider Steve Gavel bought 22,170 shares of the stock in a transaction dated Wednesday, January 21st. The shares were bought at an average cost of $2.27 per share, for a total transaction of $50,325.90. Following the purchase, the insider directly owned 22,170 shares of the company’s stock, valued at approximately $50,325.90. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shawn Tomasello purchased 22,725 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was bought at an average cost of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the acquisition, the director directly owned 22,725 shares in the company, valued at $50,222.25. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 127,668 shares of company stock worth $286,211 over the last 90 days. Company insiders own 11.25% of the company’s stock.

Institutional Trading of Cabaletta Bio

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new stake in Cabaletta Bio in the fourth quarter worth about $34,000. CRA Financial Services LLC grew its position in shares of Cabaletta Bio by 36.4% during the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth approximately $38,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth approximately $43,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Cabaletta Bio in the 3rd quarter worth approximately $47,000.

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.