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

Key Points

• Cabaletta Bio, Inc. has received a consensus rating of "Moderate Buy" from eleven research firms, with one recommending a sell and eight a buy.
• The average one-year target price for Cabaletta Bio's stock among brokers is $13.4444, with several analysts providing ratings above the current trading price.
• Institutional trading activity has increased, with organizations like Acadian Asset Management and Federated Hermes significantly raising their stakes in the company.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.4444.

A number of analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $16.00 price objective on shares of Cabaletta Bio in a research note on Friday, October 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price objective on shares of Cabaletta Bio in a research note on Friday, September 5th. Jefferies Financial Group assumed coverage on shares of Cabaletta Bio in a research note on Friday, October 10th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Wednesday, October 8th.

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Cabaletta Bio by 36.5% in the first 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 last quarter. Federated Hermes Inc. increased its position in Cabaletta Bio by 133.1% during the first quarter. Federated Hermes Inc. now owns 343,411 shares of the company's stock worth $476,000 after acquiring an additional 196,064 shares during the period. Nuveen LLC bought a new position in Cabaletta Bio during the first quarter worth $602,000. Almitas Capital LLC bought a new position in Cabaletta Bio during the first quarter worth $509,000. Finally, Charles Schwab Investment Management Inc. increased its position in Cabaletta Bio by 46.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 159,866 shares of the company's stock worth $221,000 after acquiring an additional 50,606 shares during the period.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $2.85 on Monday. The firm has a market cap of $260.66 million, a price-to-earnings ratio of -1.05 and a beta of 3.01. The business's 50-day simple moving average is $2.01 and its 200-day simple moving average is $1.72. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $5.46.

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