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

Key Points

• Cabaletta Bio currently has an average analyst rating of “Moderate Buy”, with five buy ratings, one hold, and one sell among seven covering firms. The average 1-year price target is $15.50.
• Recent analyst moves were mixed: Guggenheim raised its target to $16 and kept a buy rating, while Morgan Stanley cut its target to $13; Wells Fargo also lifted its target but only to $4 with an equal-weight rating.
• The stock closed at $2.82 and has traded between $1.26 and $4.23 over the past year. Cabaletta Bio also reported a smaller-than-expected quarterly loss, beating EPS estimates by $0.02.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has earned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.50.

CABA has been the subject of a number of research analyst reports. Guggenheim increased their price target on Cabaletta Bio from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Morgan Stanley reduced their price objective on Cabaletta Bio from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, March 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on Cabaletta Bio from $2.00 to $4.00 and gave the stock an "equal weight" rating in a research note on Friday, May 15th.

Institutional Trading of Cabaletta Bio

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new position in shares of Cabaletta Bio during the 1st quarter valued at approximately $32,000. SummitTX Capital L.P. bought a new stake in shares of Cabaletta Bio in the 1st quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Cabaletta Bio in the 4th quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd purchased a new position in Cabaletta Bio in the fourth quarter valued at approximately $38,000. Finally, Private Advisor Group LLC lifted its stake in Cabaletta Bio by 22.4% in the first quarter. Private Advisor Group LLC now owns 18,025 shares of the company's stock valued at $48,000 after purchasing an additional 3,300 shares during the last quarter.

Cabaletta Bio Price Performance

CABA opened at $2.82 on Wednesday. The company's 50-day moving average is $3.19 and its 200 day moving average is $3.01. Cabaletta Bio has a fifty-two week low of $1.26 and a fifty-two week high of $4.23. The firm has a market capitalization of $459.82 million, a P/E ratio of -1.44 and a beta of 3.26.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. On average, equities research analysts expect that Cabaletta Bio will post -1.38 earnings per share for the current year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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