Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Rating of “Buy” from Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA) has received a consensus rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $24.38.

Several research analysts recently issued reports on CABA shares. Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Friday, November 15th.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cabaletta Bio in the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio during the 3rd quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. boosted its holdings in Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after acquiring an additional 3,724 shares during the period. Intech Investment Management LLC acquired a new stake in Cabaletta Bio in the third quarter valued at approximately $67,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $127,000.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $2.24 on Tuesday. The business has a 50 day moving average price of $3.28 and a 200 day moving average price of $5.02. The company has a market capitalization of $109.48 million, a P/E ratio of -1.04 and a beta of 2.37. Cabaletta Bio has a 1-year low of $1.76 and a 1-year high of $26.35.

Cabaletta Bio Company Profile

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.