Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $17.00 Consensus Price Target from 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 stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

Several research analysts have commented on CABA shares. Guggenheim raised their price target on shares of Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Morgan Stanley decreased their target price on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research note on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Finally, Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, April 18th.

Cabaletta Bio Price Performance

Shares of CABA opened at $3.61 on Friday. The firm has a market cap of $401.87 million, a PE ratio of -1.58 and a beta of 3.18. Cabaletta Bio has a 1 year low of $1.26 and a 1 year high of $4.23. The stock’s fifty day moving average price is $3.17 and its two-hundred day moving average price is $2.76.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. Sell-side analysts anticipate that Cabaletta Bio will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in Cabaletta Bio by 357.1% during the 1st 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 increased its stake in shares of Cabaletta Bio by 2,292.1% during 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 period. AQR Capital Management LLC purchased a new position in Cabaletta Bio during the 1st quarter valued at $102,000. XTX Topco Ltd bought a new position in Cabaletta Bio in the second quarter worth about $148,000. Finally, Marshall Wace LLP lifted its stake in shares of Cabaletta Bio by 470.7% in the 2nd quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock valued at $290,000 after purchasing an additional 157,497 shares during the period.

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.