Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.60.

A number of research firms recently weighed in on CABA. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. William Blair raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Wednesday, September 23rd. Wells Fargo & Company reduced their price target on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Finally, Wall Street Zen cut Cabaletta Bio from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Cabaletta Bio during the 2nd quarter worth $33,447,000. Jennison Associates LLC increased its position in Cabaletta Bio by 0.7% in the 1st quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock valued at $24,131,000 after acquiring an additional 64,879 shares during the period. Opaleye Management Inc. raised its stake in shares of Cabaletta Bio by 180.0% during the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock valued at $12,016,000 after purchasing an additional 2,483,800 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cabaletta Bio by 33.8% during the first quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company’s stock valued at $5,479,000 after acquiring an additional 514,080 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in shares of Cabaletta Bio in the 2nd quarter worth $2,852,181.

Cabaletta Bio Trading Down 0.7%

Shares of NASDAQ CABA opened at $1.42 on Friday. Cabaletta Bio has a twelve month low of $1.32 and a twelve month high of $4.23. The stock has a 50 day moving average of $2.24 and a two-hundred day moving average of $2.84.

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

Cabaletta Bio Company Profile

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.