Cabaletta Bio (NASDAQ:CABA) Upgraded to Strong-Buy at TD Cowen

Cabaletta Bio (NASDAQ:CABA) was upgraded by TD Cowen to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut their target price on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a research report on Monday, May 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cabaletta Bio presently has an average rating of “Moderate Buy” and an average target price of $15.33.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock opened at $3.10 on Monday. Cabaletta Bio has a 52-week low of $1.40 and a 52-week high of $4.23. The stock has a market capitalization of $525.57 million, a price-to-earnings ratio of -1.97 and a beta of 3.30. The company’s 50 day moving average price is $2.88 and its 200-day moving average price is $3.08.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, equities research analysts forecast that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Cabaletta Bio during the second quarter valued at $34,000. Kestra Advisory Services LLC purchased a new position in shares of Cabaletta Bio in the 1st quarter worth about $32,000. SummitTX Capital L.P. bought a new position in Cabaletta Bio in the 1st quarter worth about $34,000. ANTIPODES PARTNERS Ltd bought a new position in Cabaletta Bio in the 4th quarter worth about $38,000. Finally, Callan Family Office LLC bought a new position in Cabaletta Bio in the 2nd quarter worth about $54,000.

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.