Analysts Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $17.00

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $17.00.

Several analysts have issued reports on CABA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st. Guggenheim boosted their price target on shares of Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Morgan Stanley cut their price objective on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th.

Cabaletta Bio Price Performance

CABA opened at $3.44 on Monday. The firm has a market capitalization of $382.94 million, a price-to-earnings ratio of -1.51 and a beta of 3.30. The company’s 50 day simple moving average is $3.04 and its two-hundred day simple moving average is $2.66. Cabaletta Bio has a 1-year low of $1.08 and a 1-year high of $3.78.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, equities analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Shawn Tomasello purchased 22,725 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was acquired at an average price of $2.21 per share, with a total value of $50,222.25. Following the purchase, the director directly owned 22,725 shares in the company, valued at approximately $50,222.25. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steve Gavel purchased 22,170 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were purchased at an average price of $2.27 per share, with a total value of $50,325.90. Following the acquisition, the insider directly owned 22,170 shares in the company, valued at approximately $50,325.90. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 127,668 shares of company stock worth $286,211. Corporate insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of Cabaletta Bio by 17.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after purchasing an additional 1,495,768 shares during the last quarter. Jennison Associates LLC increased its position in shares of Cabaletta Bio by 4.8% during the 4th quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock worth $19,503,000 after purchasing an additional 408,162 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after buying an additional 5,195,285 shares during the period. Vanguard Group Inc. raised its holdings in Cabaletta Bio by 21.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock valued at $9,806,000 after buying an additional 740,032 shares during the period. Finally, Millennium Management LLC lifted its position in Cabaletta Bio by 298.5% in the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock valued at $5,994,000 after buying an additional 2,050,099 shares during the last quarter.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.