A number of other brokerages have also commented on CABA. Morgan Stanley boosted their price objective on shares of Cabaletta Bio from $19.00 to $20.00 and gave the stock an overweight rating in a research report on Wednesday, July 15th. Zacks Investment Research lowered shares of Cabaletta Bio from a hold rating to a sell rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $17.75.
Shares of CABA stock opened at $11.68 on Thursday. The company’s fifty day simple moving average is $11.35 and its 200-day simple moving average is $9.59. The firm has a market cap of $280.79 million and a PE ratio of -2.87. Cabaletta Bio has a 12 month low of $5.51 and a 12 month high of $19.63.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in Cabaletta Bio by 1,426.7% during the first quarter. Wells Fargo & Company MN now owns 8,107 shares of the company’s stock worth $59,000 after acquiring an additional 7,576 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Cabaletta Bio by 99.3% in the second quarter. Bank of America Corp DE now owns 6,659 shares of the company’s stock valued at $75,000 after purchasing an additional 3,317 shares during the last quarter. American International Group Inc. increased its holdings in shares of Cabaletta Bio by 100.6% in the second quarter. American International Group Inc. now owns 7,896 shares of the company’s stock valued at $88,000 after purchasing an additional 3,960 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Cabaletta Bio in the first quarter valued at $92,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Cabaletta Bio by 533.5% in the first quarter. JPMorgan Chase & Co. now owns 13,461 shares of the company’s stock valued at $98,000 after purchasing an additional 11,336 shares during the last quarter. 68.40% of the stock is currently owned by hedge funds and other institutional investors.
Cabaletta Bio Company Profile
Cabaletta Bio, Inc operates as a clinical-stage biotechnology company that focuses on the discovery and development of engineered T cell therapies for B cell-mediated autoimmune diseases. The company's proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells that produce disease-causing autoantibodies or pathogenic B cells.
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