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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is $33.44.

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target for the company. HC Wainwright boosted their price objective on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company boosted their price objective on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, March 22nd.

Insiders Place Their Bets

In other Cabaletta Bio news, insider Gwendolyn Binder sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $19.59, for a total transaction of $215,490.00. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $391,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Trading of Cabaletta Bio

Several large investors have recently made changes to their positions in CABA. Macroview Investment Management LLC purchased a new stake in shares of Cabaletta Bio in the 4th quarter valued at $26,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Cabaletta Bio in the second quarter valued at about $27,000. Comerica Bank acquired a new stake in shares of Cabaletta Bio in the third quarter valued at about $31,000. UBS Group AG acquired a new stake in shares of Cabaletta Bio in the third quarter valued at about $33,000. Finally, Barclays PLC increased its position in Cabaletta Bio by 239.6% during the fourth quarter. Barclays PLC now owns 4,146 shares of the company’s stock worth $38,000 after purchasing an additional 2,925 shares during the last quarter.

Cabaletta Bio Price Performance

Shares of CABA opened at $17.06 on Friday. Cabaletta Bio has a 1-year low of $6.94 and a 1-year high of $26.35. The firm has a market capitalization of $822.97 million, a price-to-earnings ratio of -10.39 and a beta of 2.46. The company has a 50-day moving average of $21.42 and a 200 day moving average of $18.85.

About Cabaletta Bio

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease.