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

Cabaletta Bio, Inc. (NASDAQ:CABA) 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.

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

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.