Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $13.44

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $13.4444.

Several research analysts have issued reports on CABA shares. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Cabaletta Bio in a report on Friday, October 10th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of Cabaletta Bio in a report on Friday, September 5th.

Cabaletta Bio Trading Down 10.6%

Shares of CABA opened at $2.45 on Monday. Cabaletta Bio has a 1-year low of $0.99 and a 1-year high of $5.46. The firm’s 50-day moving average price is $2.08 and its 200-day moving average price is $1.75. The firm has a market capitalization of $224.08 million, a price-to-earnings ratio of -0.90 and a beta of 3.01.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.02). On average, research analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently modified their holdings of CABA. Bank of New York Mellon Corp increased its stake in shares of Cabaletta Bio by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 155,174 shares of the company’s stock worth $215,000 after purchasing an additional 14,026 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Cabaletta Bio by 133.1% in the first quarter. Federated Hermes Inc. now owns 343,411 shares of the company’s stock worth $476,000 after purchasing an additional 196,064 shares in the last quarter. Raiffeisen Bank International AG increased its stake in shares of Cabaletta Bio by 36.4% in the first quarter. Raiffeisen Bank International AG now owns 300,000 shares of the company’s stock worth $416,000 after purchasing an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cabaletta Bio by 46.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 159,866 shares of the company’s stock worth $221,000 after purchasing an additional 50,606 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Cabaletta Bio by 357.1% in the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after purchasing an additional 48,181 shares in 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.