Cabaletta Bio (NASDAQ:CABA) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Cabaletta Bio from “sell” to “strong sell,” despite a broader analyst consensus of “Moderate Buy” and an average price target of $15.60.
• CABA shares fell 9.0% to open at $1.41, near their 52-week low of $1.40 and well below their 50-day and 200-day moving averages.
• The clinical-stage biotechnology company reported a quarterly loss of $0.34 per share, beating estimates of a $0.37 loss, while several institutional investors—including BlackRock and Opaleye Management—recently added positions.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on CABA. Wells Fargo & Company cut their price target on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, August 14th. TD Cowen upgraded Cabaletta Bio to a "strong-buy" rating in a research note on Monday, August 24th. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, September 1st. William Blair raised Cabaletta Bio to a "strong-buy" rating in a research report on Wednesday, September 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Thursday. Two investment 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.60.

Cabaletta Bio Trading Down 9.0%

NASDAQ CABA opened at $1.41 on Friday. The firm's 50 day moving average price is $2.59 and its 200-day moving average price is $2.94. Cabaletta Bio has a 52-week low of $1.40 and a 52-week high of $4.23.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. BlackRock Inc. acquired a new position in shares of Cabaletta Bio during the 2nd quarter worth approximately $33,447,000. Opaleye Management Inc. increased its holdings in shares of Cabaletta Bio by 180.0% in the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company's stock valued at $12,016,000 after purchasing an additional 2,483,800 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in Cabaletta Bio during the second quarter worth approximately $2,852,181. Blue Owl Capital Holdings LP purchased a new position in Cabaletta Bio during the second quarter worth approximately $2,223,000. Finally, GSA Capital Partners LLP purchased a new position in Cabaletta Bio during the second quarter worth approximately $2,079,000.

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 B cells or autoreactive immune cells while seeking to restore a healthier immune system.

Cabaletta's lead program is CABA-201, a fully human CD19-directed chimeric antigen receptor T-cell therapy being evaluated across multiple autoimmune conditions. The company has also developed a platform for creating targeted cellular therapies, including investigational product candidates intended for diseases such as pemphigus and other antibody-mediated autoimmune disorders.

Founded in 2017 and headquartered in Philadelphia, Pennsylvania, Cabaletta Bio conducts research and clinical development primarily in the United States.

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