Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Recommendation of “Buy” by Brokerages


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Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.33.

CABA has been the topic of several recent analyst reports. ValuEngine upgraded Cabaletta Bio from a “hold” rating to a “buy” rating in a report on Tuesday, December 22nd. BidaskClub lowered Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Monday, December 28th. HC Wainwright assumed coverage on Cabaletta Bio in a research note on Tuesday, October 13th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research lowered Cabaletta Bio from a “buy” rating to a “hold” rating in a research note on Monday, January 4th. Finally, Chardan Capital restated a “buy” rating and issued a $21.00 price target on shares of Cabaletta Bio in a research note on Friday, January 8th.

In related news, major shareholder Ventures V. L.P. 5Am sold 302,000 shares of Cabaletta Bio stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $13.00, for a total value of $3,926,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures V. L.P. 5Am sold 298,000 shares of Cabaletta Bio stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $14.75, for a total value of $4,395,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 685,000 shares of company stock worth $9,426,500. 6.51% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Morgan Stanley boosted its holdings in shares of Cabaletta Bio by 22.6% during the 3rd quarter. Morgan Stanley now owns 45,344 shares of the company’s stock worth $492,000 after purchasing an additional 8,357 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cabaletta Bio by 20.6% during the third quarter. JPMorgan Chase & Co. now owns 18,128 shares of the company’s stock worth $189,000 after acquiring an additional 3,093 shares during the period. State Street Corp increased its position in shares of Cabaletta Bio by 21.9% during the third quarter. State Street Corp now owns 162,714 shares of the company’s stock worth $1,764,000 after acquiring an additional 29,222 shares during the period. BlackRock Inc. increased its position in shares of Cabaletta Bio by 1.6% during the third quarter. BlackRock Inc. now owns 632,397 shares of the company’s stock worth $6,857,000 after acquiring an additional 9,714 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in shares of Cabaletta Bio during the third quarter worth $311,000. Institutional investors and hedge funds own 68.00% of the company’s stock.

Shares of NASDAQ CABA traded down $0.75 during mid-day trading on Friday, reaching $13.78. The company’s stock had a trading volume of 2,549 shares, compared to its average volume of 152,429. The firm has a market capitalization of $331.48 million, a PE ratio of -10.31 and a beta of 1.67. The stock has a fifty day moving average of $13.83 and a two-hundred day moving average of $12.24. Cabaletta Bio has a 52 week low of $5.51 and a 52 week high of $19.63.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings results on Sunday, November 15th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.08. As a group, equities research analysts anticipate that Cabaletta Bio will post -1.38 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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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