Cabaletta Bio (NASDAQ:CABA) Stock Price Down 4.2%

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) fell 4.2% during trading on Wednesday . The company traded as low as $15.55 and last traded at $15.60. 446,553 shares traded hands during trading, a decline of 52% from the average session volume of 927,485 shares. The stock had previously closed at $16.29.

Wall Street Analyst Weigh In

A number of research firms recently commented on CABA. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, April 5th. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. HC Wainwright upped their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Citigroup boosted their price objective on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.33.

Cabaletta Bio Stock Performance

The firm’s 50-day moving average is $19.84 and its 200 day moving average is $18.94.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.07). Equities research analysts expect that Cabaletta Bio, Inc. will post -1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Cabaletta Bio by 14.3% during the third quarter. Vanguard Group Inc. now owns 1,968,108 shares of the company’s stock worth $29,955,000 after buying an additional 246,596 shares during the period. Swiss National Bank purchased a new stake in Cabaletta Bio during the third quarter worth approximately $930,000. Citigroup Inc. grew its stake in Cabaletta Bio by 552.4% during the third quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after buying an additional 42,078 shares during the period. Wellington Management Group LLP purchased a new stake in Cabaletta Bio during the third quarter worth approximately $3,753,000. Finally, Jennison Associates LLC grew its stake in Cabaletta Bio by 20.5% during the third quarter. Jennison Associates LLC now owns 1,422,367 shares of the company’s stock worth $21,648,000 after buying an additional 241,803 shares during the period.

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. 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.