Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $16.25 Average Target Price from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.00.

A number of research firms recently commented on CABA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Morgan Stanley lowered their price target on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Guggenheim boosted their price target on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday.

Cabaletta Bio Stock Up 4.1%

Shares of NASDAQ:CABA opened at $2.78 on Thursday. The firm has a market cap of $309.47 million, a P/E ratio of -1.22 and a beta of 3.25. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $3.78. The business has a fifty day simple moving average of $2.89 and a 200 day simple moving average of $2.55.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities research analysts expect that Cabaletta Bio will post -2.34 EPS for the current year.

Insider Activity

In other news, Director Shawn Tomasello bought 22,725 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average price of $2.21 per share, for a total transaction of $50,222.25. Following the completion of the acquisition, the director directly owned 22,725 shares in the company, valued at approximately $50,222.25. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven Nichtberger purchased 45,000 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were purchased at an average cost of $2.24 per share, for a total transaction of $100,800.00. Following the transaction, the chief executive officer directly owned 1,031,483 shares of the company’s stock, valued at approximately $2,310,521.92. The trade was a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 127,668 shares of company stock worth $286,211 in the last three months. Corporate insiders own 11.25% of the company’s stock.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC increased its stake in shares of Cabaletta Bio by 250.5% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after acquiring an additional 6,916,237 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Cabaletta Bio by 142.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after acquiring an additional 5,195,285 shares during the period. Millennium Management LLC boosted its stake in Cabaletta Bio by 298.5% during the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock worth $5,994,000 after acquiring an additional 2,050,099 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Cabaletta Bio during the second quarter worth $3,036,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Cabaletta Bio by 17.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after purchasing an additional 1,495,768 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.