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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.50.

A number of analysts have weighed in on the company. Guggenheim upped their target price on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Company upped their target price on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a report on Friday, May 15th. Wall Street Zen upgraded Cabaletta Bio from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley lowered their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Monday, April 20th.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently made changes to their positions in CABA. Kestra Advisory Services LLC acquired a new position in shares of Cabaletta Bio during the first quarter worth $32,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at $34,000. SummitTX Capital L.P. acquired a new position in shares of Cabaletta Bio in the 1st quarter valued at $34,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at $38,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at $43,000.

Cabaletta Bio Stock Down 2.9%

Cabaletta Bio stock opened at $3.67 on Tuesday. The business has a fifty day moving average of $3.27 and a two-hundred day moving average of $2.83. The firm has a market cap of $598.39 million, a P/E ratio of -1.87 and a beta of 3.21. Cabaletta Bio has a twelve month low of $1.26 and a twelve month high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Equities analysts expect that Cabaletta Bio will post -1.38 earnings per share 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.