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

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

Several other research analysts also recently issued reports on the company. Guggenheim upped their price objective on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Morgan Stanley cut their price target on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Monday, April 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Cabaletta Bio in a research note on Monday, May 4th. Finally, Wells Fargo & Company increased their price target on Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cabaletta Bio currently has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $3.78 on Friday. The stock’s fifty day moving average price is $3.26 and its two-hundred day moving average price is $2.82. Cabaletta Bio has a 52-week low of $1.26 and a 52-week high of $4.23. The company has a market cap of $616.33 million, a price-to-earnings ratio of -1.93 and a beta of 3.18.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. On average, equities analysts predict that Cabaletta Bio will post -1.38 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC increased its holdings in Cabaletta Bio by 22.4% during the 1st quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock worth $48,000 after purchasing an additional 3,300 shares in the last quarter. SG Americas Securities LLC increased its holdings in Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Cabaletta Bio during the 1st quarter worth about $32,000. SummitTX Capital L.P. acquired a new position in shares of Cabaletta Bio during the 1st quarter worth about $34,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Cabaletta Bio during the 4th quarter worth about $34,000.

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.