Cabaletta Bio (NASDAQ:CABA) Raised to “Hold” at Wall Street Zen

Cabaletta Bio (NASDAQ:CABA) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Guggenheim upped their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Morgan Stanley dropped their price objective on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cabaletta Bio presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Cabaletta Bio Stock Down 5.0%

Shares of CABA stock opened at $2.68 on Friday. Cabaletta Bio has a twelve month low of $0.99 and a twelve month high of $3.78. The company has a market cap of $298.34 million, a P/E ratio of -1.18 and a beta of 3.25. The business has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $2.56.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Monday, March 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities research analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Cabaletta Bio

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CABA. CRA Financial Services LLC boosted its position in Cabaletta Bio by 36.4% during the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Cabaletta Bio by 44.0% in the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after acquiring an additional 9,365 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Cabaletta Bio in the 4th quarter worth about $34,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at about $38,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Cabaletta Bio during the 4th quarter valued at about $43,000.

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.