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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have been assigned an average recommendation of "Buy" from the ten research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $20.33.

Several brokerages have commented on CABA. Citigroup decreased their price target on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Morgan Stanley decreased their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Wells Fargo & Company reduced their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. UBS Group reduced their target price on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, HC Wainwright restated a "buy" rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday, April 1st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Miller Financial Services LLC purchased a new position in shares of Cabaletta Bio during the fourth quarter valued at approximately $33,000. Intech Investment Management LLC boosted its position in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock valued at $46,000 after buying an additional 5,999 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Cabaletta Bio during the fourth quarter valued at approximately $47,000. Callan Family Office LLC purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $58,000. Finally, Comerica Bank boosted its position in shares of Cabaletta Bio by 2,292.1% during the first quarter. Comerica Bank now owns 41,599 shares of the company's stock valued at $58,000 after buying an additional 39,860 shares during the period.

Cabaletta Bio Stock Down 0.8%

Shares of CABA stock opened at $1.78 on Friday. The stock has a market cap of $90.32 million, a P/E ratio of -0.83 and a beta of 2.72. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $13.50. The company's fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $2.17.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.04). On average, analysts anticipate that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

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.

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