Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Has Consensus Target Price of $15.33 According to Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $15.60.

A number of research analysts have recently weighed in on CABA shares. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. Wells Fargo & Company reduced their price objective on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 14th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. William Blair raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently made changes to their positions in CABA. BlackRock Inc. bought a new stake in shares of Cabaletta Bio during the 2nd quarter worth about $33,447,000. Opaleye Management Inc. raised its stake in shares of Cabaletta Bio by 180.0% in the 2nd quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock valued at $12,016,000 after acquiring an additional 2,483,800 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of Cabaletta Bio in the 2nd quarter valued at approximately $2,852,181. Blue Owl Capital Holdings LP bought a new position in shares of Cabaletta Bio in the 2nd quarter valued at approximately $2,223,000. Finally, GSA Capital Partners LLP bought a new position in shares of Cabaletta Bio in the 2nd quarter valued at approximately $2,079,000.

Cabaletta Bio Stock Performance

Shares of CABA opened at $1.93 on Monday. The firm has a market cap of $327.21 million, a PE ratio of -1.23 and a beta of 3.48. The firm’s 50 day moving average price is $2.70 and its 200 day moving average price is $2.98. Cabaletta Bio has a twelve month low of $1.83 and a twelve month high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.03. On average, sell-side analysts anticipate that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company’s approach is designed to selectively target and eliminate disease-causing B cells or autoreactive immune cells while seeking to restore a healthier immune system.

Cabaletta’s lead program is CABA-201, a fully human CD19-directed chimeric antigen receptor T-cell therapy being evaluated across multiple autoimmune conditions. The company has also developed a platform for creating targeted cellular therapies, including investigational product candidates intended for diseases such as pemphigus and other antibody-mediated autoimmune disorders.

Founded in 2017 and headquartered in Philadelphia, Pennsylvania, Cabaletta Bio conducts research and clinical development primarily in the United States.