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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $34.33.

Several brokerages have weighed in on CABA. HC Wainwright raised their price objective on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company lifted 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. Jefferies Financial Group assumed coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target for the company. Citigroup lifted their price target on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Cabaletta Bio in a report on Friday, April 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. Macroview Investment Management LLC acquired a new position in Cabaletta Bio during the 4th quarter valued at about $26,000. Tower Research Capital LLC TRC boosted its stake in Cabaletta Bio by 65.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock valued at $60,000 after purchasing an additional 1,042 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Cabaletta Bio during the 3rd quarter valued at about $63,000. Amalgamated Bank boosted its stake in Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock valued at $71,000 after purchasing an additional 922 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Cabaletta Bio during the 4th quarter valued at about $113,000.

Cabaletta Bio Price Performance

Shares of CABA stock opened at $12.96 on Thursday. The firm has a market cap of $625.19 million, a P/E ratio of -7.85 and a beta of 2.41. Cabaletta Bio has a 1-year low of $7.69 and a 1-year high of $26.35. The firm has a fifty day moving average of $18.96 and a two-hundred day moving average of $18.92.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). On average, sell-side analysts expect that Cabaletta Bio will post -1.82 EPS for the current year.

Cabaletta Bio Company Profile

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.