Analysts Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $15.33

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.3333.

A number of brokerages have recently commented on CABA. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Wells Fargo & Company decreased their target price on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 14th. Wall Street Zen cut shares of Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Finally, TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th.

Cabaletta Bio Trading Down 4.2%

Shares of NASDAQ CABA opened at $2.49 on Thursday. Cabaletta Bio has a 12-month low of $1.91 and a 12-month high of $4.23. The company has a market cap of $422.15 million, a PE ratio of -1.59 and a beta of 3.27. The stock has a 50 day simple moving average of $2.92 and a 200-day simple moving average of $3.11.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.03. Sell-side analysts forecast that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CABA. BlackRock Inc. acquired a new position in shares of Cabaletta Bio in the 2nd quarter worth approximately $33,447,000. Opaleye Management Inc. raised its holdings 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 worth $12,016,000 after purchasing an additional 2,483,800 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in Cabaletta Bio during the second quarter valued at approximately $2,852,181. Blue Owl Capital Holdings LP acquired a new stake in Cabaletta Bio during the second quarter valued at approximately $2,223,000. Finally, GSA Capital Partners LLP bought a new stake in Cabaletta Bio during the second quarter worth approximately $2,079,000.

About Cabaletta Bio

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 immune cells or restore immune tolerance, with the goal of achieving durable disease control.

Cabaletta’s lead investigational program is CABA-201, a fully human anti-CD19 chimeric antigen receptor T-cell therapy being evaluated in autoimmune conditions, including systemic lupus erythematosus and other B-cell-mediated diseases.