Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $15.50

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $15.50.

Several research firms recently weighed in on CABA. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Morgan Stanley decreased their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Wells Fargo & Company upped their target price on Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Guggenheim increased their price target 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, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a research report on Monday, May 4th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of Cabaletta Bio in the 1st quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. bought a new stake in Cabaletta Bio during the fourth quarter worth approximately $34,000. SummitTX Capital L.P. acquired a new position in Cabaletta Bio in the first quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new position in Cabaletta Bio in the fourth quarter worth approximately $38,000. Finally, Clear Harbor Asset Management LLC acquired a new position in Cabaletta Bio in the fourth quarter worth approximately $43,000.

Cabaletta Bio Stock Performance

CABA opened at $3.19 on Friday. Cabaletta Bio has a twelve month low of $1.26 and a twelve month high of $4.23. The firm has a market cap of $520.13 million, a price-to-earnings ratio of -1.63 and a beta of 3.26. The company has a fifty day simple moving average of $3.31 and a 200 day simple moving average of $2.95.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. On average, analysts forecast that Cabaletta Bio will post -1.38 earnings per share for the current fiscal year.

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.