Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Cabaletta Bio, Inc. has received an average consensus rating of "Buy" from nine brokerages, with a one-year price target averaging $14.50.
• The company reported a loss of ($0.73) earnings per share in its latest quarterly earnings, slightly missing the consensus estimate.
• Significant institutional interest is evident, with hedge funds like Acadian Asset Management increasing their holdings in Cabaletta Bio by 36.5%.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has been given an average recommendation of "Buy" by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.50.

Several research firms recently weighed in on CABA. HC Wainwright reissued a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a research note on Wednesday, June 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price objective on shares of Cabaletta Bio in a research note on Friday, September 5th.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $2.47 on Thursday. The company's 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.61. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $5.46. The firm has a market capitalization of $225.91 million, a price-to-earnings ratio of -0.91 and a beta of 2.86.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.02). As a group, analysts predict that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its holdings in Cabaletta Bio by 36.5% during the 1st quarter. Acadian Asset Management LLC now owns 682,670 shares of the company's stock worth $942,000 after buying an additional 182,406 shares during the period. Federated Hermes Inc. raised its holdings in Cabaletta Bio by 133.1% during the 1st quarter. Federated Hermes Inc. now owns 343,411 shares of the company's stock worth $476,000 after buying an additional 196,064 shares during the period. Nuveen LLC acquired a new stake in Cabaletta Bio during the 1st quarter worth approximately $602,000. Two Sigma Advisers LP raised its holdings in Cabaletta Bio by 195.8% during the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock worth $1,888,000 after buying an additional 550,700 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Cabaletta Bio by 78.8% during the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock worth $1,707,000 after buying an additional 331,417 shares during the period.

About Cabaletta Bio

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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