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

Key Points

• Wall Street Zen upgraded Cabaletta Bio from “strong sell” to “sell,” while analyst views remain mixed. MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $15.33.
• CABA opened at $2.07, near its one-year low of $2.00, with a market capitalization of approximately $351 million. Its 50-day and 200-day moving averages were $2.85 and $3.06, respectively.
• Cabaletta Bio reported a quarterly loss of $0.34 per share, beating estimates of a $0.37 loss. The clinical-stage biotechnology company is developing engineered T-cell therapies, led by its CABA-201 program for autoimmune diseases.

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

Other equities analysts have also issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, August 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Cabaletta Bio in a research report on Tuesday, September 1st. TD Cowen upgraded Cabaletta Bio to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.33.

Cabaletta Bio Stock Performance

CABA stock opened at $2.07 on Friday. The firm has a market cap of $350.95 million, a PE ratio of -1.32 and a beta of 3.27. The firm's 50 day moving average price is $2.85 and its 200-day moving average price is $3.06. Cabaletta Bio has a one year low of $2.00 and a one year high of $4.23.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.03. Equities research analysts predict that Cabaletta Bio will post -1.31 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

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

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