Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $15.50.

Several research firms have recently weighed in on CABA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a research note on Monday, May 4th. Guggenheim raised their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Morgan Stanley reduced 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. Finally, Wells Fargo & Company boosted their target price on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently made changes to their positions in CABA. Jennison Associates LLC lifted its holdings in Cabaletta Bio by 4.8% during the 4th quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock worth $19,503,000 after purchasing an additional 408,162 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cabaletta Bio by 565.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,649 shares of the company’s stock worth $1,258,000 after purchasing an additional 456,853 shares during the period. 683 Capital Management LLC purchased a new position in Cabaletta Bio during the 4th quarter valued at about $851,000. Clear Harbor Asset Management LLC purchased a new position in Cabaletta Bio during the 4th quarter valued at about $43,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at about $38,000.

Cabaletta Bio Stock Performance

CABA stock opened at $2.82 on Wednesday. The stock has a fifty day moving average of $3.19 and a 200-day moving average of $3.01. Cabaletta Bio has a fifty-two week low of $1.26 and a fifty-two week high of $4.23. The company has a market capitalization of $459.82 million, a price-to-earnings ratio of -1.44 and a beta of 3.26.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. Equities analysts predict that Cabaletta Bio will post -1.38 EPS for the current year.

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.