Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $22.71 Consensus Target Price from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.71.

Several research firms have recently weighed in on CABA. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, February 18th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $1.82 on Friday. Cabaletta Bio has a 1 year low of $1.59 and a 1 year high of $19.06. The stock has a market capitalization of $88.96 million, a PE ratio of -0.85 and a beta of 2.58. The company’s 50 day simple moving average is $2.25 and its two-hundred day simple moving average is $3.22.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently made changes to their positions in CABA. GSA Capital Partners LLP bought a new stake in Cabaletta Bio in the 3rd quarter worth $127,000. Jennison Associates LLC grew its holdings in Cabaletta Bio by 1.6% in the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock worth $26,586,000 after acquiring an additional 86,214 shares during the last quarter. Intech Investment Management LLC bought a new stake in Cabaletta Bio in the 3rd quarter worth $67,000. HealthInvest Partners AB grew its holdings in Cabaletta Bio by 162.0% in the 3rd quarter. HealthInvest Partners AB now owns 168,522 shares of the company’s stock worth $795,000 after acquiring an additional 104,201 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cabaletta Bio by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company’s stock worth $594,000 after acquiring an additional 7,518 shares during the last quarter.

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.