Cabaletta Bio (NASDAQ:CABA) Stock Rating Raised to Sell at Wall Street Zen

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

Several other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research note on Tuesday, September 1st. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Wells Fargo & Company cut their price target on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

Cabaletta Bio Trading Down 3.7%

NASDAQ:CABA opened at $2.07 on Friday. Cabaletta Bio has a 12-month low of $2.00 and a 12-month high of $4.23. The stock’s 50 day simple moving average is $2.85 and its 200-day simple moving average is $3.06. The firm has a market cap of $350.95 million, a P/E ratio of -1.32 and a beta of 3.27.

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

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. Opaleye Management Inc. grew its stake in shares of Cabaletta Bio by 180.0% during the 2nd quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock worth $12,016,000 after purchasing an additional 2,483,800 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Cabaletta Bio by 76.5% in the second quarter. WINTON GROUP Ltd now owns 27,000 shares of the company’s stock valued at $84,000 after purchasing an additional 11,700 shares during the period. HighTower Advisors LLC purchased a new stake in Cabaletta Bio during the second quarter worth about $34,000. Susquehanna Fundamental Investments LLC purchased a new stake in Cabaletta Bio during the second quarter worth about $476,000. Finally, Two Sigma Securities LLC purchased a new stake in Cabaletta Bio during the second quarter worth about $83,000.

Cabaletta Bio Company Profile

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 immune cells or restore immune tolerance, with the goal of achieving durable disease control.

Cabaletta’s lead investigational program is CABA-201, a fully human anti-CD19 chimeric antigen receptor T-cell therapy being evaluated in autoimmune conditions, including systemic lupus erythematosus and other B-cell-mediated diseases.