Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) PT at $16.25

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.25.

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

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in Cabaletta Bio by 36.5% in the 1st quarter. Acadian Asset Management LLC now owns 682,670 shares of the company’s stock worth $942,000 after acquiring an additional 182,406 shares during the last quarter. Bain Capital Life Sciences Investors LLC increased its holdings in shares of Cabaletta Bio by 250.5% in the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after purchasing an additional 6,916,237 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio in the second quarter worth about $3,036,000. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 147.4% during the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock worth $9,151,000 after purchasing an additional 3,586,439 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cabaletta Bio by 46.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 159,866 shares of the company’s stock worth $221,000 after purchasing an additional 50,606 shares during the period.

Cabaletta Bio Stock Down 3.2%

Shares of CABA stock opened at $2.10 on Friday. The firm has a market cap of $202.15 million, a price-to-earnings ratio of -0.83 and a beta of 3.25. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.67. The company’s 50 day moving average is $2.35 and its 200 day moving average is $2.08.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Analysts anticipate that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.