Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $15.33 Consensus PT from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.3333.

A number of brokerages have recently commented on CABA. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Cabaletta Bio in a report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd. Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Wells Fargo & Company decreased their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 14th.

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Cabaletta Bio in the 2nd quarter valued at $476,000. Two Sigma Securities LLC purchased a new position in Cabaletta Bio during the 2nd quarter worth $83,000. Wellington Management Group LLP lifted its stake in shares of Cabaletta Bio by 15.6% in the 2nd quarter. Wellington Management Group LLP now owns 286,212 shares of the company’s stock worth $890,000 after acquiring an additional 38,553 shares during the period. Stonepine Capital Management LLC acquired a new stake in shares of Cabaletta Bio in the 2nd quarter worth $2,852,181,000. Finally, Almitas Capital LLC purchased a new stake in shares of Cabaletta Bio in the second quarter valued at about $392,000.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock opened at $3.19 on Friday. The firm’s fifty day simple moving average is $2.88 and its 200-day simple moving average is $3.07. The stock has a market capitalization of $540.83 million, a price-to-earnings ratio of -2.03 and a beta of 3.30. Cabaletta Bio has a 12 month low of $1.40 and a 12 month high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. Analysts anticipate that Cabaletta Bio will post -1.34 earnings per share for the current 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.