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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $16.25.

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

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $2.21 on Friday. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $3.67. The firm has a fifty day moving average price of $2.42 and a two-hundred day moving average price of $2.07. The firm has a market cap of $212.73 million, a price-to-earnings ratio of -0.87 and a beta of 3.25.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. As a group, sell-side analysts expect that Cabaletta Bio will post -2.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Large investors have recently modified their holdings of the stock. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Cabaletta Bio by 250.5% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock worth $14,709,000 after buying an additional 6,916,237 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after purchasing an additional 5,195,285 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Cabaletta Bio by 147.4% in the 2nd quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after purchasing an additional 3,586,439 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Cabaletta Bio in the 2nd quarter worth about $3,036,000. Finally, Woodline Partners LP increased its position in shares of Cabaletta Bio by 75.2% during the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after purchasing an additional 916,884 shares in the last quarter.

About Cabaletta Bio

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.