Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.1111.

Several analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They issued a “buy” rating and a $14.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research note on Friday, October 10th. Cantor Fitzgerald raised their price target on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CABA. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Cabaletta Bio during the second quarter worth about $32,000. CRA Financial Services LLC boosted its position in Cabaletta Bio by 36.4% during the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after acquiring an additional 4,000 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Cabaletta Bio in the 3rd quarter worth approximately $47,000. Callan Family Office LLC purchased a new stake in Cabaletta Bio in the 1st quarter worth approximately $58,000. Finally, Comerica Bank raised its holdings in Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after acquiring an additional 39,860 shares during the last quarter.

Cabaletta Bio Stock Performance

CABA opened at $2.36 on Tuesday. The company has a market cap of $227.17 million, a price-to-earnings ratio of -0.93 and a beta of 3.17. Cabaletta Bio has a one year low of $0.99 and a one year high of $3.67. The business’s fifty day moving average is $2.52 and its two-hundred day moving average is $2.05.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. On average, analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal 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.