Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Recommendation of “Moderate Buy” by Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $15.1111.

Several analysts have weighed in on CABA shares. Cantor Fitzgerald upped their target price on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They issued a “buy” rating and a $14.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th.

Cabaletta Bio Trading Down 2.7%

CABA stock opened at $2.48 on Tuesday. The firm has a 50 day moving average of $2.52 and a 200-day moving average of $2.03. The company has a market cap of $238.72 million, a price-to-earnings ratio of -0.98 and a beta of 3.17. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $3.67.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Sell-side analysts forecast that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd acquired a new stake in Cabaletta Bio during the 2nd quarter valued at $32,000. CRA Financial Services LLC raised its holdings in shares of Cabaletta Bio by 36.4% in the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after acquiring an additional 4,000 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Cabaletta Bio in the third quarter valued at $47,000. Callan Family Office LLC acquired a new stake in shares of Cabaletta Bio during the first quarter valued at $58,000. Finally, Comerica Bank boosted its stake 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 valued at $58,000 after acquiring an additional 39,860 shares during the last quarter.

Cabaletta Bio Company Profile

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.