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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.60.

CABA has been the subject of a number of analyst reports. William Blair raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Wednesday, September 23rd. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen cut shares of Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Wells Fargo & Company reduced their price objective on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 14th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st.

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. StoneX Group Inc. acquired a new stake in shares of Cabaletta Bio in the 3rd quarter valued at approximately $26,000. Simplify Asset Management Inc. acquired a new position in Cabaletta Bio during the third quarter worth $1,068,000. Nisa Investment Advisors LLC increased its holdings in Cabaletta Bio by 3,976.6% during the third quarter. Nisa Investment Advisors LLC now owns 33,061 shares of the company’s stock worth $63,000 after buying an additional 32,250 shares during the last quarter. Opaleye Management Inc. increased its holdings in 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 buying an additional 2,483,800 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Cabaletta Bio by 76.5% during the second quarter. WINTON GROUP Ltd now owns 27,000 shares of the company’s stock worth $84,000 after buying an additional 11,700 shares during the last quarter.

Cabaletta Bio Stock Down 9.9%

Shares of CABA opened at $1.28 on Friday. Cabaletta Bio has a twelve month low of $1.18 and a twelve month high of $4.23. The company has a 50 day moving average of $2.16 and a 200-day moving average of $2.83.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. On average, sell-side analysts predict that Cabaletta Bio will post -1.34 EPS for the current fiscal year.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.