Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Rating of “Buy” by Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have covered the stock in the last year is $34.33.

A number of brokerages recently weighed in on CABA. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a research note on Monday, February 5th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company boosted their price target on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Citigroup raised their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a report on Friday, April 5th. Finally, HC Wainwright raised their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $15.15 on Thursday. The stock has a market capitalization of $730.84 million, a PE ratio of -9.18 and a beta of 2.41. The business has a 50 day simple moving average of $20.07 and a 200-day simple moving average of $18.97. Cabaletta Bio has a 12 month low of $7.69 and a 12 month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.07). On average, equities research analysts anticipate that Cabaletta Bio will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at Cabaletta Bio

In related news, insider Gwendolyn Binder sold 11,000 shares of Cabaletta Bio stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $19.59, for a total value of $215,490.00. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $391,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors have recently bought and sold shares of CABA. Macroview Investment Management LLC purchased a new position in shares of Cabaletta Bio in the fourth quarter valued at approximately $26,000. Ameritas Investment Partners Inc. purchased a new position in Cabaletta Bio in the 2nd quarter valued at approximately $27,000. Comerica Bank acquired a new position in shares of Cabaletta Bio in the third quarter worth $31,000. UBS Group AG purchased a new stake in shares of Cabaletta Bio during the third quarter worth $33,000. Finally, Barclays PLC raised its stake in shares of Cabaletta Bio by 239.6% in the fourth quarter. Barclays PLC now owns 4,146 shares of the company’s stock valued at $38,000 after acquiring an additional 2,925 shares in the last quarter.

Cabaletta Bio Company Profile

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.