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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $16.25.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st.

Insider Buying and Selling

In related news, Director Mark Simon purchased 11,061 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were bought at an average price of $2.28 per share, for a total transaction of $25,219.08. Following the completion of the transaction, the director owned 147,205 shares of the company’s stock, valued at approximately $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Steven Nichtberger purchased 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was bought at an average cost of $2.24 per share, with a total value of $100,800.00. Following the purchase, the chief executive officer owned 1,031,483 shares of the company’s stock, valued at $2,310,521.92. This represents a 4.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 127,668 shares of company stock valued at $286,211. Company insiders own 11.25% of the company’s stock.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently bought and sold shares of CABA. Bain Capital Life Sciences Investors LLC raised its position in shares of Cabaletta Bio by 250.5% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after buying an additional 6,916,237 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Cabaletta Bio by 142.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock worth $13,421,000 after acquiring an additional 5,195,285 shares in the last quarter. Millennium Management LLC increased its stake in Cabaletta Bio by 298.5% in the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock valued at $5,994,000 after acquiring an additional 2,050,099 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Cabaletta Bio in the second quarter valued at approximately $3,036,000. Finally, T. Rowe Price Investment Management Inc. raised its position in Cabaletta Bio by 17.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after purchasing an additional 1,495,768 shares in the last quarter.

Cabaletta Bio Stock Down 4.1%

Shares of NASDAQ:CABA opened at $2.82 on Thursday. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $3.78. The company’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $2.54. The firm has a market cap of $271.47 million, a PE ratio of -1.11 and a beta of 3.25.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, research analysts expect that Cabaletta Bio will post -2.34 EPS for the current 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.