Guggenheim Forecasts Strong Price Appreciation for Cabaletta Bio (NASDAQ:CABA) Stock

Cabaletta Bio (NASDAQ:CABA) had its price objective boosted by stock analysts at Guggenheim from $15.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 489.10% from the company’s current price.

CABA has been the topic of several other research reports. Morgan Stanley dropped their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Cabaletta Bio Trading Down 3.7%

Shares of NASDAQ CABA traded down $0.10 during midday trading on Tuesday, hitting $2.72. The company’s stock had a trading volume of 620,722 shares, compared to its average volume of 3,116,195. The firm has a market capitalization of $261.46 million, a price-to-earnings ratio of -1.07 and a beta of 3.25. The stock has a fifty day moving average price of $2.86 and a 200 day moving average price of $2.54. Cabaletta Bio has a one year low of $0.99 and a one year high of $3.78.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, equities research analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Simon purchased 11,061 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was purchased at an average cost of $2.28 per share, with a total value of $25,219.08. Following the acquisition, the director directly owned 147,205 shares in the company, valued at approximately $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Tomasello purchased 22,725 shares of Cabaletta Bio stock in a transaction dated Wednesday, January 21st. The shares were purchased at an average price of $2.21 per share, with a total value of $50,222.25. Following the completion of the transaction, the director directly owned 22,725 shares in the company, valued at approximately $50,222.25. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 127,668 shares of company stock valued at $286,211. 11.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cabaletta Bio

Institutional investors have recently added to or reduced their stakes in the business. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Cabaletta Bio by 250.5% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company’s stock valued at $14,709,000 after acquiring an additional 6,916,237 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio during the second quarter worth about $3,036,000. Clear Harbor Asset Management LLC purchased a new position in shares of Cabaletta Bio during the fourth quarter worth about $43,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Cabaletta Bio in the fourth quarter worth approximately $38,000. Finally, Jennison Associates LLC increased its position 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 worth $19,503,000 after purchasing an additional 408,162 shares during the last quarter.

About Cabaletta Bio

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.