Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.50.

Several equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Monday, April 20th. Wells Fargo & Company raised their price objective on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research note on Monday, May 4th. Finally, Morgan Stanley reduced their price objective on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th.

Cabaletta Bio Price Performance

Shares of CABA opened at $3.20 on Tuesday. The business’s fifty day moving average price is $3.33 and its 200 day moving average price is $2.87. Cabaletta Bio has a 12-month low of $1.26 and a 12-month high of $4.23. The stock has a market capitalization of $521.76 million, a PE ratio of -1.63 and a beta of 3.21.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02. As a group, research analysts anticipate that Cabaletta Bio will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds have recently added to or reduced their stakes in CABA. Invesco Ltd. lifted its stake in Cabaletta Bio by 357.1% in the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after buying an additional 48,181 shares during the last quarter. Comerica Bank lifted its stake in Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after buying an additional 39,860 shares during the last quarter. AQR Capital Management LLC bought a new stake in Cabaletta Bio in the first quarter valued at $102,000. XTX Topco Ltd bought a new stake in Cabaletta Bio in the second quarter valued at $148,000. Finally, Marshall Wace LLP lifted its stake in Cabaletta Bio by 470.7% in the second quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock valued at $290,000 after buying an additional 157,497 shares during the last quarter.

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.