Cabaletta Bio (NASDAQ:CABA) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen cut shares of Cabaletta Bio (NASDAQ:CABA) from a sell rating to a strong sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research analysts have also weighed in on CABA. William Blair upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Wednesday, September 23rd. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Wells Fargo & Company reduced their target price 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.60.

Cabaletta Bio Stock Performance

CABA opened at $1.41 on Friday. Cabaletta Bio has a fifty-two week low of $1.40 and a fifty-two week high of $4.23. The firm has a 50-day moving average of $2.59 and a 200 day moving average of $2.94. The firm has a market cap of $239.05 million, a P/E ratio of -0.90 and a beta of 3.48.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.03. Equities research analysts predict that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CABA. BlackRock Inc. bought a new stake in Cabaletta Bio in the second quarter worth $33,447,000. Jennison Associates LLC increased its position in Cabaletta Bio by 0.7% during the 1st quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock valued at $24,131,000 after purchasing an additional 64,879 shares during the period. Opaleye Management Inc. raised its stake in Cabaletta Bio by 180.0% in 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of Cabaletta Bio by 33.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company’s stock worth $5,479,000 after acquiring an additional 514,080 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Cabaletta Bio during the second quarter valued at about $2,852,181.

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 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.