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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $16.25.

CABA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research note on Friday, October 10th. Jefferies Financial Group initiated coverage on Cabaletta Bio in a research note on Friday, October 10th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CABA. CRA Financial Services LLC lifted its stake in Cabaletta Bio by 36.4% in the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after purchasing an additional 4,000 shares during the last quarter. Almitas Capital LLC raised its stake in Cabaletta Bio by 5.4% in the third quarter. Almitas Capital LLC now owns 387,491 shares of the company’s stock valued at $907,000 after buying an additional 20,000 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Cabaletta Bio in the third quarter valued at approximately $47,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Cabaletta Bio during the 2nd quarter worth approximately $32,000. Finally, Invesco Ltd. increased its holdings in shares of Cabaletta Bio by 37.5% during the 2nd quarter. Invesco Ltd. now owns 84,831 shares of the company’s stock worth $129,000 after acquiring an additional 23,156 shares during the last quarter.

Cabaletta Bio Stock Up 4.9%

Shares of CABA stock opened at $2.14 on Friday. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $3.67. The company’s fifty day simple moving average is $2.39 and its 200-day simple moving average is $2.08. The firm has a market cap of $206.00 million, a PE ratio of -0.85 and a beta of 3.25.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Monday, November 10th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. On average, equities analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

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.