Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) PT at $20.33

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.88.

A number of research firms have recently weighed in on CABA. Wells Fargo & Company dropped their target price on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Citigroup dropped their price objective on Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating for the company in a report on Friday, May 16th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Wednesday, June 11th. Morgan Stanley cut their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st. Finally, UBS Group cut their target price on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st.

Cabaletta Bio Stock Performance

Shares of CABA opened at $1.73 on Tuesday. The stock has a fifty day moving average price of $1.60 and a two-hundred day moving average price of $1.98. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $9.25. The company has a market cap of $87.78 million, a price-to-earnings ratio of -0.68 and a beta of 2.81.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Wednesday, May 21st. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.04). As a group, research analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds have recently modified their holdings of CABA. Miller Financial Services LLC acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth about $33,000. Intech Investment Management LLC raised its position in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after purchasing an additional 5,999 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth about $47,000. Callan Family Office LLC acquired a new stake in shares of Cabaletta Bio during the first quarter worth about $58,000. Finally, Comerica Bank raised its position in shares of Cabaletta Bio by 2,292.1% during the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after purchasing an additional 39,860 shares during the period.

About Cabaletta Bio

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.