Analysts Set Cabaletta Bio, Inc. (NASDAQ:CABA) PT at $15.50

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One 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 1 year price target among analysts that have issued a report on the stock in the last year is $15.50.

Several research analysts recently commented on the company. Wells Fargo & Company lifted their price target on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Friday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd.

Cabaletta Bio Stock Down 1.1%

CABA stock opened at $2.69 on Wednesday. Cabaletta Bio has a 52 week low of $1.26 and a 52 week high of $4.23. The company has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $3.01. The firm has a market capitalization of $438.60 million, a P/E ratio of -1.37 and a beta of 3.26.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. As a group, analysts anticipate that Cabaletta Bio will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in Cabaletta Bio by 17.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after acquiring an additional 1,495,768 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Cabaletta Bio by 0.7% in the 1st quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock worth $24,131,000 after acquiring an additional 64,879 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 worth $13,421,000 after acquiring an additional 5,195,285 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cabaletta Bio by 21.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock worth $9,806,000 after purchasing an additional 740,032 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Cabaletta Bio by 298.5% during the 4th quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock worth $5,994,000 after purchasing an additional 2,050,099 shares during the period.

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.