Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.60.

A number of brokerages have recently commented on CABA. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen raised Cabaletta Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 26th. Wells Fargo & Company dropped their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. Finally, TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th.

Cabaletta Bio Trading Down 1.0%

NASDAQ CABA opened at $1.93 on Monday. The company has a market cap of $327.21 million, a PE ratio of -1.23 and a beta of 3.48. Cabaletta Bio has a 12 month low of $1.83 and a 12 month high of $4.23. The stock has a 50 day moving average of $2.70 and a 200-day moving average of $2.98.

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

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Cabaletta Bio in the 2nd quarter valued at about $2,079,000. BlackRock Inc. bought a new stake in shares of Cabaletta Bio during the second quarter worth approximately $33,447,000. Blue Owl Capital Holdings LP bought a new stake in shares of Cabaletta Bio during the second quarter worth approximately $2,223,000. Opaleye Management Inc. increased its stake in shares of Cabaletta Bio by 180.0% during the second 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 during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Cabaletta Bio by 33.8% during the first quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company’s stock worth $5,479,000 after purchasing an additional 514,080 shares during the period.

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.