Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $16.25 Consensus Target Price from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.25.

A number of brokerages have recently weighed in on CABA. Cantor Fitzgerald raised their price objective on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a report on Friday, October 10th. Jefferies Financial Group began coverage on Cabaletta Bio in a research note on Friday, October 10th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st.

Cabaletta Bio Stock Performance

CABA stock opened at $2.57 on Wednesday. The company’s fifty day moving average price is $2.38 and its 200-day moving average price is $2.17. Cabaletta Bio has a one year low of $0.99 and a one year high of $3.67. The company has a market capitalization of $247.40 million, a PE ratio of -1.02 and a beta of 3.25.

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

Insider Buying and Selling at Cabaletta Bio

In other Cabaletta Bio news, Director Shawn Tomasello purchased 22,725 shares of the stock in a transaction that occurred on Wednesday, January 21st. The stock was purchased at an average price of $2.21 per share, with a total value of $50,222.25. Following the acquisition, the director owned 22,725 shares in the company, valued at approximately $50,222.25. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven Nichtberger acquired 45,000 shares of Cabaletta Bio stock in a transaction on Wednesday, January 21st. The shares were bought at an average cost of $2.24 per share, for a total transaction of $100,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,031,483 shares of the company’s stock, valued at $2,310,521.92. The trade was a 4.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 127,668 shares of company stock worth $286,211 over the last three months. 11.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Catalyst Funds Management Pty Ltd bought a new position in shares of Cabaletta Bio during the 2nd quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. bought a new position in Cabaletta Bio during the fourth quarter valued at $34,000. CRA Financial Services LLC raised its stake in shares of Cabaletta Bio by 36.4% in the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Cabaletta Bio in the third quarter valued at $47,000. Finally, Comerica Bank lifted its holdings in shares of Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after acquiring an additional 39,860 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.