Cabaletta Bio (NASDAQ:CABA) Shares Up 7.7% – Should You Buy?

Cabaletta Bio, Inc. (NASDAQ:CABA)’s stock price rose 7.7% on Wednesday . The stock traded as high as $4.02 and last traded at $4.0050. Approximately 1,539,244 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 3,239,040 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research report on Friday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Guggenheim lifted their price target on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, Morgan Stanley cut 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, March 24th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Cabaletta Bio Trading Up 4.2%

The stock has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $2.80. The firm has a market capitalization of $632.00 million, a PE ratio of -1.98 and a beta of 3.18.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. As a group, equities analysts anticipate that Cabaletta Bio, Inc. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Cabaletta Bio by 4.8% in the fourth quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock valued at $19,503,000 after acquiring an additional 408,162 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cabaletta Bio by 565.4% during the third quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company’s stock worth $1,258,000 after purchasing an additional 456,853 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Cabaletta Bio in the fourth quarter worth about $332,000. Qube Research & Technologies Ltd purchased a new position in Cabaletta Bio during the 3rd quarter valued at about $209,000. Finally, AQR Capital Management LLC purchased a new position in Cabaletta Bio during the 1st quarter valued at about $102,000.

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.