Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Recommendation of “Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $22.71.

CABA has been the subject of a number of analyst reports. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price objective for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research note on Tuesday. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Finally, William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC boosted its holdings in Cabaletta Bio by 111.6% in the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after acquiring an additional 212,025 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Cabaletta Bio during the third quarter worth about $3,150,000. Geode Capital Management LLC lifted its holdings in shares of Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares during the period. Barclays PLC lifted its holdings in shares of Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares during the period. Finally, XTX Topco Ltd lifted its holdings in shares of Cabaletta Bio by 490.2% during the third quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares during the period.

Cabaletta Bio Trading Down 14.0 %

CABA opened at $2.33 on Wednesday. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $24.85. The business’s fifty day simple moving average is $2.48 and its 200-day simple moving average is $3.66. The company has a market capitalization of $113.89 million, a price-to-earnings ratio of -1.08 and a beta of 2.47.

About Cabaletta Bio

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.