Cabaletta Bio (NASDAQ:CABA) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Cabaletta Bio (NASDAQ:CABA) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. William Blair upgraded Cabaletta Bio to a “strong-buy” rating in a report on Wednesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company reduced their target price on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Moderate Buy” and a consensus price target of $15.60.

Cabaletta Bio Price Performance

CABA opened at $1.48 on Friday. Cabaletta Bio has a 1 year low of $1.39 and a 1 year high of $4.23. The company’s 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.94.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, sell-side analysts anticipate that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of CABA. BlackRock Inc. acquired a new stake in shares of Cabaletta Bio in the second quarter worth $33,447,000. Opaleye Management Inc. raised its stake in shares of Cabaletta Bio by 180.0% in the 2nd quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock valued at $12,016,000 after acquiring an additional 2,483,800 shares during the period. Stonepine Capital Management LLC purchased a new position in shares of Cabaletta Bio in the 2nd quarter valued at $2,852,181. Blue Owl Capital Holdings LP acquired a new position in shares of Cabaletta Bio during the 2nd quarter valued at $2,223,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Cabaletta Bio during the 2nd quarter valued at $2,079,000.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company’s approach is designed to selectively target and eliminate disease-causing B cells or autoreactive immune cells while seeking to restore a healthier immune system.

Cabaletta’s lead program is CABA-201, a fully human CD19-directed chimeric antigen receptor T-cell therapy being evaluated across multiple autoimmune conditions. The company has also developed a platform for creating targeted cellular therapies, including investigational product candidates intended for diseases such as pemphigus and other antibody-mediated autoimmune disorders.

Founded in 2017 and headquartered in Philadelphia, Pennsylvania, Cabaletta Bio conducts research and clinical development primarily in the United States.