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

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.25.

CABA has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Cantor Fitzgerald raised their target price on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research report on Friday, October 10th. Finally, Jefferies Financial Group started coverage on Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 price target on the stock.

Cabaletta Bio Trading Up 2.4%

Cabaletta Bio stock opened at $3.02 on Wednesday. The company has a market capitalization of $290.72 million, a price-to-earnings ratio of -1.19 and a beta of 3.25. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $3.67. The stock’s 50 day moving average is $2.34 and its 200-day moving average is $2.16.

Cabaletta Bio (NASDAQ:CABA) last released 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, equities research analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Simon purchased 11,061 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average price of $2.28 per share, with a total value of $25,219.08. Following the completion of the purchase, the director directly owned 147,205 shares in the company, valued at $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Tomasello acquired 22,725 shares of Cabaletta Bio stock in a transaction on Wednesday, January 21st. The shares were purchased at an average price of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the purchase, the director directly owned 22,725 shares of the company’s stock, valued at approximately $50,222.25. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 127,668 shares of company stock worth $286,211 over the last three months. Company insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Cabaletta Bio by 357.1% in the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after purchasing an additional 48,181 shares in the last quarter. Comerica Bank raised its holdings in shares of Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after buying an additional 39,860 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Cabaletta Bio during the 1st quarter worth $102,000. Jennison Associates LLC boosted its stake in Cabaletta Bio by 147.4% in the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock valued at $9,151,000 after buying an additional 3,586,439 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Cabaletta Bio in the second quarter valued at about $32,000.

Cabaletta Bio Company Profile

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.