Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.25.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st.

Cabaletta Bio Price Performance

NASDAQ:CABA opened at $3.32 on Friday. The company has a market cap of $319.58 million, a PE ratio of -1.31 and a beta of 3.27. The firm’s 50 day simple moving average is $2.55 and its 200 day simple moving average is $2.36. Cabaletta Bio has a one year low of $0.99 and a one year high of $3.78.

Insider Activity at Cabaletta Bio

In other Cabaletta Bio news, Director Mark Simon purchased 11,061 shares of Cabaletta Bio stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average price of $2.28 per share, with a total value of $25,219.08. Following the transaction, the director owned 147,205 shares in the company, valued at $335,627.40. This trade represents a 8.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Gavel acquired 22,170 shares of the stock in a transaction on Wednesday, January 21st. The shares were acquired at an average price of $2.27 per share, for a total transaction of $50,325.90. Following the acquisition, the insider owned 22,170 shares of the company’s stock, valued at approximately $50,325.90. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 127,668 shares of company stock worth $286,211 over the last three months. 11.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CRA Financial Services LLC grew its stake in shares of Cabaletta Bio by 36.4% in the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after acquiring an additional 4,000 shares in the last quarter. SG Americas Securities LLC grew its position in Cabaletta Bio by 44.0% in the 4th quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Cabaletta Bio in the 4th quarter valued at about $34,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Cabaletta Bio during the 4th quarter worth approximately $38,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Cabaletta Bio during the 4th quarter worth approximately $43,000.

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.