Cabaletta Bio (NASDAQ:CABA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cabaletta Bio (NASDAQ:CABA) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on CABA. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Wells Fargo & Company dropped 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, TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

Cabaletta Bio Trading Down 3.4%

Shares of NASDAQ:CABA opened at $2.00 on Friday. The company has a market cap of $339.08 million, a price-to-earnings ratio of -1.27 and a beta of 3.27. Cabaletta Bio has a 12 month low of $1.98 and a 12 month high of $4.23. The company has a 50-day moving average price of $2.84 and a 200 day moving average price of $3.05.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, equities analysts forecast that Cabaletta Bio will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CABA. Legal & General Group Plc bought a new stake in shares of Cabaletta Bio during the 2nd quarter worth approximately $34,000. HighTower Advisors LLC purchased a new position in Cabaletta Bio during the 2nd quarter valued at $34,000. Kestra Advisory Services LLC bought a new position in Cabaletta Bio in the 1st quarter valued at $32,000. SummitTX Capital L.P. bought a new position in Cabaletta Bio in the 1st quarter valued at $34,000. Finally, Callan Family Office LLC purchased a new stake in Cabaletta Bio in the second quarter worth $54,000.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company’s approach is designed to selectively target and eliminate disease-causing immune cells or restore immune tolerance, with the goal of achieving durable disease control.

Cabaletta’s lead investigational program is CABA-201, a fully human anti-CD19 chimeric antigen receptor T-cell therapy being evaluated in autoimmune conditions, including systemic lupus erythematosus and other B-cell-mediated diseases.