Cabaletta Bio (NASDAQ:CABA) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Cabaletta Bio (NASDAQ:CABA) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on CABA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a report on Monday, May 4th. Wall Street Zen cut shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cabaletta Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

Cabaletta Bio Stock Performance

CABA opened at $3.10 on Monday. The firm has a 50 day moving average price of $2.88 and a 200 day moving average price of $3.08. The company has a market cap of $525.57 million, a PE ratio of -1.97 and a beta of 3.30. Cabaletta Bio has a 1 year low of $1.40 and a 1 year high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. On average, sell-side analysts predict that Cabaletta Bio will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC raised its position in shares of Cabaletta Bio by 22.4% during the 1st quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock worth $48,000 after purchasing an additional 3,300 shares during the period. Legal & General Group Plc bought a new stake in shares of Cabaletta Bio in the 2nd quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new position in Cabaletta Bio during the 1st quarter valued at approximately $32,000. SummitTX Capital L.P. acquired a new position in Cabaletta Bio during the 1st quarter valued at approximately $34,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Cabaletta Bio during the 4th quarter worth $38,000.

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.