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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.25.

Several analysts recently weighed in on the company. Cantor Fitzgerald lifted their price target on Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Wednesday, January 21st.

Insider Buying and Selling at Cabaletta Bio

In related news, Director Shawn Tomasello acquired 22,725 shares of the stock in a transaction on Wednesday, January 21st. The shares were purchased at an average price of $2.21 per share, for a total transaction of $50,222.25. Following the purchase, the director directly owned 22,725 shares in the company, valued at approximately $50,222.25. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven Nichtberger acquired 45,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was bought at an average cost of $2.24 per share, with a total value of $100,800.00. Following the completion of the acquisition, the chief executive officer directly owned 1,031,483 shares in the company, valued at approximately $2,310,521.92. This represents a 4.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 127,668 shares of company stock worth $286,211. 11.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CABA. T. Rowe Price Investment Management Inc. increased its holdings in Cabaletta Bio by 17.9% in the 4th 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 in the last quarter. Bain Capital Life Sciences Investors LLC grew its holdings in shares of Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock worth $14,709,000 after purchasing an additional 6,916,237 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Cabaletta Bio by 4.8% in the fourth quarter. Jennison Associates LLC now owns 8,905,699 shares of the company’s stock valued at $19,503,000 after buying an additional 408,162 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Cabaletta Bio by 142.9% in the second 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 buying an additional 5,195,285 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Cabaletta Bio by 21.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock valued at $9,806,000 after buying an additional 740,032 shares during the last quarter.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $3.29 on Friday. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.67. The stock has a market cap of $316.70 million, a PE ratio of -1.30 and a beta of 3.27. The firm has a 50-day moving average of $2.49 and a 200-day moving average of $2.32.

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.