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

Cabaletta Bio, Inc. (NASDAQ:CABAGet Free Report) has received an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.25.

Several equities research analysts have recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Friday, November 15th.

Get Our Latest Analysis on CABA

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio in the third quarter valued at $32,000. Point72 DIFC Ltd bought a new position in shares of Cabaletta Bio in the third quarter valued at $33,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Cabaletta Bio in the first quarter valued at $191,000. Finally, Intech Investment Management LLC bought a new position in shares of Cabaletta Bio in the third quarter valued at $67,000.

Cabaletta Bio Stock Down 7.4 %

CABA opened at $3.25 on Friday. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35. The company has a fifty day moving average of $3.84 and a 200-day moving average of $6.03. The stock has a market cap of $158.86 million, a PE ratio of -1.51 and a beta of 2.37.

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.

Further Reading

Analyst Recommendations for Cabaletta Bio (NASDAQ:CABA)

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