Cabaletta Bio (NASDAQ:CABA) Rating Lowered to Sell at Wall Street Zen

Cabaletta Bio (NASDAQ:CABA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

CABA has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Guggenheim lifted their price objective on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Morgan Stanley lowered their price target on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $3.44 on Friday. The stock has a market cap of $382.94 million, a PE ratio of -1.51 and a beta of 3.30. The stock has a 50-day moving average price of $3.04 and a 200 day moving average price of $2.66. Cabaletta Bio has a 52 week low of $1.08 and a 52 week high of $3.78.

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

Insider Activity at Cabaletta Bio

In related news, Director Mark Simon acquired 11,061 shares of the stock in a transaction dated Wednesday, January 21st. The stock was bought at an average cost of $2.28 per share, with a total value of $25,219.08. Following the purchase, the director directly owned 147,205 shares of the company’s stock, valued at approximately $335,627.40. This represents a 8.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Gavel acquired 22,170 shares of the stock in a transaction dated Wednesday, January 21st. The shares were bought at an average cost of $2.27 per share, with a total value of $50,325.90. Following the completion of the purchase, the insider directly owned 22,170 shares in the company, valued at approximately $50,325.90. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 127,668 shares of company stock valued at $286,211 over the last quarter. 11.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Cabaletta Bio

Several institutional investors have recently made changes to their positions in the stock. CRA Financial Services LLC grew its stake in shares of Cabaletta Bio by 36.4% during the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after buying an additional 4,000 shares during the period. SG Americas Securities LLC grew its holdings in shares of Cabaletta Bio by 44.0% during the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $34,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $38,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth about $43,000.

About Cabaletta Bio

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.