Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Recommendation of "Buy" from Brokerages

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has earned a consensus recommendation of "Buy" from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.00.

A number of research analysts have recently commented on CABA shares. Wells Fargo & Company dropped their price target on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. UBS Group cut their price target on Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley lowered their price objective on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Finally, Guggenheim restated a "buy" rating and issued a $23.00 price target on shares of Cabaletta Bio in a research report on Tuesday, April 1st.

Cabaletta Bio Price Performance

NASDAQ:CABA traded up $0.09 during trading hours on Monday, hitting $1.34. The company's stock had a trading volume of 875,734 shares, compared to its average volume of 1,436,936. Cabaletta Bio has a twelve month low of $0.99 and a twelve month high of $13.50. The stock has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $2.43. The company has a market capitalization of $68.00 million, a P/E ratio of -0.62 and a beta of 2.44.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.65). On average, equities analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently bought and sold shares of CABA. LPL Financial LLC raised its position in shares of Cabaletta Bio by 15.6% in the 4th quarter. LPL Financial LLC now owns 42,386 shares of the company's stock worth $96,000 after acquiring an additional 5,716 shares in the last quarter. Intech Investment Management LLC grew its stake in Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock worth $46,000 after purchasing an additional 5,999 shares during the period. SG Americas Securities LLC increased its holdings in Cabaletta Bio by 23.3% in the fourth quarter. SG Americas Securities LLC now owns 43,259 shares of the company's stock worth $98,000 after purchasing an additional 8,161 shares in the last quarter. Barclays PLC lifted its stake in Cabaletta Bio by 17.2% in the fourth quarter. Barclays PLC now owns 71,617 shares of the company's stock valued at $163,000 after buying an additional 10,487 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cabaletta Bio by 9.9% during the 1st quarter. Bank of New York Mellon Corp now owns 155,174 shares of the company's stock worth $215,000 after buying an additional 14,026 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.