Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $34.33 Average PT from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $34.33.

Several analysts have recently issued reports on CABA shares. HC Wainwright upped their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, April 5th. Jefferies Financial Group began coverage on Cabaletta Bio in a report on Monday, February 5th. They issued a “buy” rating and a $36.00 price target for the company. Wells Fargo & Company boosted their price objective on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, Citigroup increased their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fred Alger Management LLC increased its holdings in shares of Cabaletta Bio by 445.6% in the 1st quarter. Fred Alger Management LLC now owns 4,015,310 shares of the company’s stock worth $33,207,000 after buying an additional 3,279,361 shares during the last quarter. Vanguard Group Inc. increased its stake in Cabaletta Bio by 8.3% in the fourth quarter. Vanguard Group Inc. now owns 2,131,931 shares of the company’s stock valued at $48,395,000 after acquiring an additional 163,823 shares during the last quarter. Perceptive Advisors LLC raised its position in Cabaletta Bio by 76.9% during the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after purchasing an additional 870,567 shares in the last quarter. Redmile Group LLC lifted its stake in Cabaletta Bio by 29.5% during the third quarter. Redmile Group LLC now owns 1,774,252 shares of the company’s stock worth $27,004,000 after purchasing an additional 403,953 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Cabaletta Bio by 637.1% during the second quarter. BlackRock Inc. now owns 1,709,718 shares of the company’s stock worth $22,072,000 after purchasing an additional 1,477,768 shares during the last quarter.

Cabaletta Bio Trading Down 4.5 %

Shares of NASDAQ CABA opened at $13.34 on Thursday. The firm has a market cap of $643.52 million, a price-to-earnings ratio of -8.08 and a beta of 2.41. The stock has a fifty day simple moving average of $19.61 and a two-hundred day simple moving average of $18.96. Cabaletta Bio has a 1-year low of $7.69 and a 1-year high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.07). Analysts forecast that Cabaletta Bio will post -1.82 EPS for the current year.

About Cabaletta Bio

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.