Cabaletta Bio (NASDAQ:CABA) Raised to “Hold” at Wall Street Zen

Cabaletta Bio (NASDAQ:CABA) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Finally, Guggenheim increased their target price on shares of Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Cabaletta Bio Stock Down 7.8%

Shares of CABA stock opened at $2.47 on Friday. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $3.78. The firm has a market cap of $274.96 million, a PE ratio of -1.08 and a beta of 3.24. The stock has a 50 day moving average of $2.92 and a 200-day moving average of $2.57.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.05. As a group, equities analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Insider Buying and Selling at Cabaletta Bio

In other Cabaletta Bio news, Director Shawn Tomasello purchased 22,725 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were purchased at an average price of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the purchase, the director directly owned 22,725 shares of the company’s stock, valued at approximately $50,222.25. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Simon purchased 11,061 shares of the stock in a transaction on Wednesday, January 21st. The stock was acquired at an average cost of $2.28 per share, for a total transaction of $25,219.08. Following the acquisition, the director directly owned 147,205 shares in the company, valued at approximately $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 127,668 shares of company stock worth $286,211 over the last three months. 11.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CABA. T. Rowe Price Investment Management Inc. lifted its stake 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 worth $21,590,000 after purchasing an additional 1,495,768 shares during the period. Bain Capital Life Sciences Investors LLC boosted its holdings in Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after purchasing an additional 6,916,237 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Cabaletta Bio by 4.8% in the 4th quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock valued at $19,503,000 after purchasing an additional 408,162 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after purchasing an additional 5,195,285 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Cabaletta Bio by 21.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock worth $9,806,000 after buying an additional 740,032 shares in the last quarter.

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.