Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Rating of “Moderate Buy” from Analysts

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

Several analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Cantor Fitzgerald lifted their price objective on shares of Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, October 31st.

Insider Buying and Selling

In related news, Director Mark Simon purchased 11,061 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was bought at an average price of $2.28 per share, for a total transaction of $25,219.08. Following the purchase, the director owned 147,205 shares in the company, valued at $335,627.40. The trade was a 8.12% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steve Gavel acquired 22,170 shares of the stock in a transaction dated Wednesday, January 21st. The shares were bought at an average cost of $2.27 per share, for a total transaction of $50,325.90. Following the acquisition, the insider owned 22,170 shares in the company, valued at $50,325.90. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 127,668 shares of company stock worth $286,211 over the last ninety days. 11.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC boosted its stake in Cabaletta Bio by 250.5% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after purchasing an additional 6,916,237 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Cabaletta Bio during the second quarter worth approximately $3,036,000. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 147.4% during the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock worth $9,151,000 after buying an additional 3,586,439 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Cabaletta Bio in the second quarter valued at approximately $32,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Cabaletta Bio in the fourth quarter worth $34,000.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $2.91 on Friday. The business has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $2.29. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $3.67. The stock has a market cap of $280.12 million, a price-to-earnings ratio of -1.15 and a beta of 3.27.

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.