Cabaletta Bio (NASDAQ:CABA) Upgraded to Sell 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 published on Saturday morning,Wall Street Zen reports.

CABA has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Wells Fargo & Company cut their price target on 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. William Blair upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Wednesday, September 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Thursday, October 15th. Finally, TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.60.

Cabaletta Bio Price Performance

CABA opened at $1.30 on Friday. Cabaletta Bio has a 12 month low of $1.18 and a 12 month high of $4.23. The stock has a market cap of $220.40 million, a P/E ratio of -0.92 and a beta of 3.56. The stock’s 50 day moving average price is $2.12 and its 200 day moving average price is $2.82.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Thursday, November 5th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.04. Equities analysts anticipate that Cabaletta Bio will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CABA. StoneX Group Inc. bought a new stake in Cabaletta Bio during the third quarter worth approximately $26,000. Kestra Advisory Services LLC acquired a new position in Cabaletta Bio during the first quarter valued at approximately $32,000. SummitTX Capital L.P. bought a new position in shares of Cabaletta Bio in the first quarter valued at approximately $34,000. Legal & General Group Plc bought a new position in shares of Cabaletta Bio in the second quarter valued at approximately $34,000. Finally, HighTower Advisors LLC bought a new position in shares of Cabaletta Bio in the second quarter valued at approximately $34,000.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.