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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $15.50.

Several equities research analysts recently commented on CABA shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Cabaletta Bio in a report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Guggenheim lifted 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. Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Morgan Stanley reduced their price objective on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its stake in shares of Cabaletta Bio by 142.9% during the 2nd 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 buying an additional 5,195,285 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Cabaletta Bio by 298.5% during the 4th quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock valued at $5,994,000 after buying an additional 2,050,099 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Cabaletta Bio by 17.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after buying an additional 1,495,768 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Cabaletta Bio by 75.2% during the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock valued at $4,997,000 after buying an additional 916,884 shares in the last quarter. Finally, Ikarian Capital LLC bought a new position in shares of Cabaletta Bio during the fourth quarter worth $1,971,000.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $3.04 on Friday. Cabaletta Bio has a one year low of $1.26 and a one year high of $4.23. The company’s 50-day moving average is $3.33 and its 200 day moving average is $2.93. The company has a market capitalization of $495.67 million, a price-to-earnings ratio of -1.55 and a beta of 3.21.

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