Wall Street Zen Upgrades Cabaletta Bio (NASDAQ:CABA) to Sell

Cabaletta Bio (NASDAQ:CABA) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts have also issued reports about the company. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Wells Fargo & Company cut 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. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.33.

Cabaletta Bio Price Performance

Shares of CABA opened at $2.07 on Friday. The company’s fifty day moving average is $2.85 and its 200-day moving average is $3.06. Cabaletta Bio has a 12 month low of $2.00 and a 12 month high of $4.23. The firm has a market cap of $350.95 million, a price-to-earnings ratio of -1.32 and a beta of 3.27.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Cabaletta Bio in the 2nd quarter valued at approximately $33,447,000. Opaleye Management Inc. lifted its holdings in shares of Cabaletta Bio by 180.0% during the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock worth $12,016,000 after buying an additional 2,483,800 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Cabaletta Bio in the second quarter valued at approximately $2,852,181. Blue Owl Capital Holdings LP bought a new stake in shares of Cabaletta Bio in the second quarter valued at approximately $2,223,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Cabaletta Bio in the second quarter valued at approximately $2,079,000.

Cabaletta Bio Company Profile

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 immune cells or restore immune tolerance, with the goal of achieving durable disease control.

Cabaletta’s lead investigational program is CABA-201, a fully human anti-CD19 chimeric antigen receptor T-cell therapy being evaluated in autoimmune conditions, including systemic lupus erythematosus and other B-cell-mediated diseases.