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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $15.1111.

A number of brokerages recently commented on CABA. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th. Cantor Fitzgerald lifted their price target on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Jefferies Financial Group assumed coverage on Cabaletta Bio in a research note on Friday, October 10th. They set a “buy” rating and a $14.00 price objective on the stock.

Cabaletta Bio Trading Up 1.3%

NASDAQ:CABA opened at $2.39 on Tuesday. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $3.67. The firm’s 50 day moving average is $2.52 and its 200 day moving average is $2.05. The stock has a market capitalization of $230.07 million, a PE ratio of -0.94 and a beta of 3.17.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Monday, November 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Research analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC increased its holdings in 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 acquiring an additional 6,916,237 shares during the period. Adage Capital Partners GP L.L.C. grew its position 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 valued at $13,421,000 after purchasing an additional 5,195,285 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Cabaletta Bio by 147.4% in the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company’s stock worth $9,151,000 after purchasing an additional 3,586,439 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Cabaletta Bio in the second quarter worth $3,036,000. Finally, Woodline Partners LP raised its position in shares of Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after buying an additional 916,884 shares in the last quarter.

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.