Cabaletta Bio (NASDAQ:CABA) Stock Price Down 4.2%

Cabaletta Bio, Inc. (NASDAQ:CABA) fell 4.2% during mid-day trading on Wednesday . The stock traded as low as $15.55 and last traded at $15.60. 446,553 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 927,485 shares. The stock had previously closed at $16.29.

Analyst Ratings Changes

Several research firms have issued reports on CABA. Wells Fargo & Company lifted their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research note on Monday, February 5th. They set a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, April 5th. HC Wainwright lifted their price objective on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Citigroup lifted their price objective on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.33.

Cabaletta Bio Trading Down 5.0 %

The business’s 50-day moving average is $19.84 and its 200-day moving average is $18.94.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). Equities analysts anticipate that Cabaletta Bio, Inc. will post -1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macroview Investment Management LLC acquired a new position in shares of Cabaletta Bio in the fourth quarter worth about $26,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Cabaletta Bio during the second quarter worth about $27,000. Comerica Bank purchased a new stake in shares of Cabaletta Bio during the third quarter worth about $31,000. UBS Group AG purchased a new stake in shares of Cabaletta Bio during the third quarter worth about $33,000. Finally, Barclays PLC increased its stake in shares of Cabaletta Bio by 239.6% during the fourth quarter. Barclays PLC now owns 4,146 shares of the company’s stock worth $38,000 after purchasing an additional 2,925 shares in the last quarter.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.