Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Rating of “Buy” by Analysts

Cabaletta Bio, Inc. (NASDAQ:CABAGet Free Report) has earned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.33.

A number of equities analysts have commented on CABA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Friday, May 24th. Finally, Citigroup raised their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th.

Read Our Latest Research Report on CABA

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in Cabaletta Bio during the first quarter worth $1,403,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Cabaletta Bio during the 1st quarter worth about $305,000. California State Teachers Retirement System increased its holdings in shares of Cabaletta Bio by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after acquiring an additional 1,711 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Cabaletta Bio in the 1st quarter valued at approximately $191,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cabaletta Bio by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after acquiring an additional 84,633 shares in the last quarter.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $12.56 on Friday. The stock has a market capitalization of $606.36 million, a price-to-earnings ratio of -7.35 and a beta of 2.47. Cabaletta Bio has a one year low of $9.52 and a one year high of $26.35. The company’s 50-day simple moving average is $12.69 and its 200-day simple moving average is $17.84.

Cabaletta Bio (NASDAQ:CABAGet Free Report) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). As a group, research analysts forecast that Cabaletta Bio will post -2.07 EPS for the current year.

Cabaletta Bio Company Profile

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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.

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Analyst Recommendations for Cabaletta Bio (NASDAQ:CABA)

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