Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Rating of “Buy” by Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.50.

A number of equities research analysts recently commented on CABA shares. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Wednesday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of Cabaletta Bio in a research note on Friday, September 5th.

Cabaletta Bio Stock Up 0.8%

NASDAQ:CABA opened at $2.38 on Thursday. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $5.46. The stock has a market cap of $217.67 million, a PE ratio of -0.88 and a beta of 2.86. The firm’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.62.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.02). Equities analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of CABA. Bain Capital Life Sciences Investors LLC boosted its stake in shares of Cabaletta Bio by 250.5% during the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock worth $14,709,000 after purchasing an additional 6,916,237 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings 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 during the period. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 147.4% during the 2nd quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock worth $9,151,000 after acquiring an additional 3,586,439 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio during the 2nd quarter worth about $3,036,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Cabaletta Bio by 195.8% during the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after acquiring an additional 550,700 shares during the period.

About Cabaletta Bio

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.