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

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.25.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st.

Cabaletta Bio Stock Down 4.2%

Shares of CABA stock opened at $2.97 on Thursday. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $3.78. The firm has a market capitalization of $285.89 million, a price-to-earnings ratio of -1.17 and a beta of 3.25. The firm has a fifty day moving average of $2.82 and a 200-day moving average of $2.50.

Insiders Place Their Bets

In other Cabaletta Bio news, Director Shawn Tomasello bought 22,725 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average cost of $2.21 per share, with a total value of $50,222.25. Following the purchase, the director owned 22,725 shares in the company, valued at $50,222.25. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven Nichtberger bought 45,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were bought at an average price of $2.24 per share, for a total transaction of $100,800.00. Following the completion of the acquisition, the chief executive officer directly owned 1,031,483 shares in the company, valued at approximately $2,310,521.92. This trade represents a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 127,668 shares of company stock worth $286,211. Company insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cabaletta Bio by 17.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after acquiring an additional 1,495,768 shares during the period. Bain Capital Life Sciences Investors LLC raised its stake 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 valued at $14,709,000 after purchasing an additional 6,916,237 shares during the period. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 4.8% in the fourth quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock valued at $19,503,000 after purchasing an additional 408,162 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cabaletta Bio by 142.9% in the second 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. Finally, Vanguard Group Inc. boosted its position in shares of Cabaletta Bio by 21.4% during the third quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock worth $9,806,000 after buying an additional 740,032 shares during the period.

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.