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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.00.

CABA has been the topic of a number of research reports. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price target for the company from $15.00 to $6.00 in a research note on Friday, December 20th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Morgan Stanley reduced their price target on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. UBS Group lowered their price objective on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company reduced their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st.

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently bought and sold shares of CABA. Point72 Asset Management L.P. bought a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $3,150,000. Adage Capital Partners GP L.L.C. lifted its stake in Cabaletta Bio by 19.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock worth $8,250,000 after purchasing an additional 597,828 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cabaletta Bio by 195.8% in the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock valued at $1,888,000 after purchasing an additional 550,700 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Cabaletta Bio by 10.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company’s stock valued at $9,248,000 after purchasing an additional 400,282 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Cabaletta Bio by 78.8% in the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock valued at $1,707,000 after purchasing an additional 331,417 shares during the last quarter.

Cabaletta Bio Trading Up 3.2 %

Shares of NASDAQ CABA opened at $1.15 on Thursday. The company has a market capitalization of $58.10 million, a P/E ratio of -0.53 and a beta of 2.44. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $19.04. The stock has a 50 day moving average of $1.95 and a 200-day moving average of $2.84.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). Analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

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 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.