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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average rating of “Buy” by the nine analysts that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $34.33.

Several research firms recently weighed in on CABA. Wells Fargo & Company lifted their target price on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target for the company. Citigroup lifted their price objective on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. HC Wainwright lifted their price objective on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, April 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CABA. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Cabaletta Bio during the third quarter worth about $868,000. Bank of New York Mellon Corp increased its stake in shares of Cabaletta Bio by 16.1% during the third quarter. Bank of New York Mellon Corp now owns 145,467 shares of the company’s stock worth $2,214,000 after acquiring an additional 20,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cabaletta Bio during the third quarter worth about $115,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cabaletta Bio by 29.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,798 shares of the company’s stock worth $256,000 after acquiring an additional 3,798 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Cabaletta Bio during the third quarter worth about $63,000.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $12.96 on Thursday. Cabaletta Bio has a fifty-two week low of $7.69 and a fifty-two week high of $26.35. The firm has a 50 day moving average price of $18.96 and a 200 day moving average price of $18.92. The company has a market capitalization of $625.19 million, a PE ratio of -7.85 and a beta of 2.41.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). As a group, equities research analysts forecast that Cabaletta Bio will post -1.82 earnings per share for the current year.

Cabaletta Bio Company Profile

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 CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.