Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.50.

A number of research firms recently commented on CABA. Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Finally, Wells Fargo & Company upped their price target on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th.

Hedge Funds Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CABA. Invesco Ltd. grew its stake in Cabaletta Bio by 357.1% during the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after purchasing an additional 48,181 shares during the last quarter. Comerica Bank raised its stake in shares of Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after purchasing an additional 39,860 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Cabaletta Bio in the first quarter worth about $102,000. XTX Topco Ltd acquired a new stake in shares of Cabaletta Bio during the second quarter worth about $148,000. Finally, Marshall Wace LLP boosted its position in Cabaletta Bio by 470.7% in the second quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock valued at $290,000 after buying an additional 157,497 shares during the last quarter.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $2.73 on Wednesday. The company has a market cap of $445.13 million, a PE ratio of -1.39 and a beta of 3.26. The firm’s 50 day moving average price is $3.12 and its 200-day moving average price is $3.03. Cabaletta Bio has a 52-week low of $1.26 and a 52-week high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. On average, analysts forecast that Cabaletta Bio will post -1.38 earnings per share for the current fiscal year.

About Cabaletta Bio

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.