Cabaletta Bio (NASDAQ:CABA) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Cabaletta Bio (NASDAQ:CABA) from a sell rating to a strong sell rating in a report released on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price objective 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. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.33.

Cabaletta Bio Stock Down 0.4%

Shares of NASDAQ CABA opened at $2.73 on Friday. The stock’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $3.12. Cabaletta Bio has a 52-week low of $1.73 and a 52-week high of $4.23. The stock has a market capitalization of $462.84 million, a P/E ratio of -1.74 and a beta of 3.27.

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. On average, analysts anticipate that Cabaletta Bio will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CABA. Kestra Advisory Services LLC bought a new stake in Cabaletta Bio in the 1st quarter valued at about $32,000. SummitTX Capital L.P. acquired a new stake in shares of Cabaletta Bio in the first quarter valued at approximately $34,000. Legal & General Group Plc acquired a new stake in shares of Cabaletta Bio in the second quarter valued at approximately $34,000. HighTower Advisors LLC bought a new stake in shares of Cabaletta Bio during the second quarter valued at approximately $34,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at approximately $38,000.

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.