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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average recommendation of “Buy” from the nine research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $34.44.

Several research analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target on shares of Cabaletta Bio in a report on Monday, June 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Cabaletta Bio in a research note on Friday, June 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cabaletta Bio in a research note on Friday, June 14th.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors have recently made changes to their positions in CABA. Macroview Investment Management LLC bought a new position in shares of Cabaletta Bio in the 4th quarter worth $26,000. Tower Research Capital LLC TRC increased its holdings in shares of Cabaletta Bio by 65.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company’s stock worth $60,000 after buying an additional 1,042 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Cabaletta Bio in the 4th quarter worth $113,000. EntryPoint Capital LLC bought a new position in shares of Cabaletta Bio in the 1st quarter worth $147,000. Finally, Bayesian Capital Management LP bought a new position in shares of Cabaletta Bio in the 1st quarter worth $191,000.

Cabaletta Bio Trading Down 2.5 %

CABA opened at $6.71 on Friday. Cabaletta Bio has a 1-year low of $6.34 and a 1-year high of $26.35. The company has a market cap of $323.96 million, a P/E ratio of -3.92 and a beta of 2.42. The company has a fifty day moving average price of $8.53 and a two-hundred day moving average price of $14.74.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). On average, research analysts forecast that Cabaletta Bio will post -2.07 EPS for the current fiscal year.

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.