Cabaletta Bio (NASDAQ:CABA) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Cabaletta Bio (NASDAQ:CABA) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

CABA has been the subject of a number of other research reports. Guggenheim increased their target price on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Morgan Stanley lowered their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

Cabaletta Bio Trading Down 3.8%

CABA stock opened at $3.31 on Friday. The stock has a 50-day moving average price of $3.06 and a two-hundred day moving average price of $2.67. The stock has a market cap of $368.47 million, a PE ratio of -1.45 and a beta of 3.30. Cabaletta Bio has a 1 year low of $1.08 and a 1 year high of $3.78.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Monday, March 23rd. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. On average, analysts forecast that Cabaletta Bio will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Cabaletta Bio

In other Cabaletta Bio news, Director Mark Simon acquired 11,061 shares of Cabaletta Bio stock in a transaction dated Wednesday, January 21st. The stock was bought at an average cost of $2.28 per share, for a total transaction of $25,219.08. Following the purchase, the director directly owned 147,205 shares in the company, valued at approximately $335,627.40. This represents a 8.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steve Gavel acquired 22,170 shares of Cabaletta Bio stock in a transaction dated Wednesday, January 21st. The shares were acquired at an average price of $2.27 per share, with a total value of $50,325.90. Following the completion of the purchase, the insider owned 22,170 shares in the company, valued at approximately $50,325.90. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 127,668 shares of company stock valued at $286,211. Corporate insiders own 11.25% of the company’s stock.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently modified their holdings of the business. CRA Financial Services LLC boosted its stake in shares of Cabaletta Bio by 36.4% during the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after buying an additional 4,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after buying an additional 9,365 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cabaletta Bio during the 4th quarter worth about $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in Cabaletta Bio in the 4th quarter valued at about $38,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Cabaletta Bio in the 4th quarter valued at about $43,000.

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.